Silver Lake Group, L.L.C. 4

What Happened
Silver Lake Partners IV, L.P. (a reporting 10% owner and part of the Silver Lake group) converted/received 90,504 shares (conversion of Class B into Class C) and sold a total of approximately 68,706 shares of Dell Technologies on July 9, 2026. The sales were executed in multiple open‑market transactions at prices shown per tranche (individual trade prices listed in the filing ranged from about $448.17 to $460.02), producing aggregate gross proceeds of roughly $31.16 million. The filing shows the derivative/conversion step (Form 4 code M) that produced Class C shares used in connection with the sales.

Key Details

• Transaction date: July 9, 2026; Form 4 filed July 13, 2026 (timely under SEC rules).
• Sold shares (sum of tranches): ~68,706 shares; total reported proceeds ≈ $31,160,825.
• Price range reported across tranches/footnotes: approximately $447.59 to $460.47 per share (each tranche reported as a weighted average and sold in multiple executions; see footnotes F10–F22).
• Conversion/exercise: 90,504-share conversion/exercise of Class B into Class C (reported as derivative transactions, code M).
• Post-transaction holdings for this specific entity are not detailed in this single filing; related holdings and additional transactions for other Silver Lake affiliates are reported on separate Form 4s (see footnotes F23–F24).
• Notable footnotes: multiple weighted-average prices across tranches (F10–F22); footnote F2 explains conversion of Class B to Class C in connection with the sales; reporting is joint across Silver Lake entities (remarks).
• Filing timeliness: Filed July 13 for July 9 transactions — timely under the two-business-day SEC requirement.

Context
These transactions were made by a major institutional/affiliate holder (Silver Lake), not an individual executive — the filing indicates conversion of Class B shares into Class C and subsequent open-market sales. The derivative/conversion plus immediate sales resemble a conversion followed by market disposals rather than a purchase signal; institutional sales can reflect portfolio rebalancing or liquidity needs and do not by themselves indicate company fundamentals. The filing provides weighted-average price ranges and the reporting persons offer to supply per-execution price details on request (per footnotes).