Silver Lake Group, L.L.C. 4
4 · Dell Technologies Inc. · Filed Jul 13, 2026
Research Summary
AI-generated summary of this filing
Dell (DELL) 10% Owner Silver Lake Sells ~34,900 Shares
What Happened
Silver Lake Partners V DE (AIV), L.P. (reported as a 10% owner) sold multiple lots of Dell Technologies (DELL) Class C common stock in open‑market transactions on July 9, 2026. The filing shows sales totaling 34,869 shares across a series of trades at prices ranging roughly from $447.59 to $460.02 per share (per reported line items and footnote ranges), generating aggregate proceeds of about $15.8 million. The filing also reports a derivative conversion/exercise entry (code M) for 48,990 shares (conversion of Class B into Class C), which is related to the sales activity and conversions described in the footnotes.
Key Details
- Transaction date: July 9, 2026 (Form 4 filed July 13, 2026 — within the normal 2 business‑day filing window).
- Trades: 13 open‑market sale line items totaling 34,869 shares; per‑lot prices listed between $448.17 and $460.02; footnotes indicate trades occurred across price ranges roughly $447.59–$460.47.
- Proceeds: Approximately $15.81 million reported from the listed disposals.
- Derivative activity: Code M entries reflecting conversion/exercise of 48,990 shares (Class B → Class C) tied to the same July 9 activity.
- Shares owned after transaction: Not specified for this reporting person in this single filing; several affiliates filed separate Form 4s and footnotes note holdings reported elsewhere.
- Notable footnotes: F1 and F2 explain conversions of Class B to Class C and coordinated sales by related Silver Lake entities; F10–F22 describe weighted‑average pricing ranges for the multiple trades.
- Type of reporting person: Institutional/10% owner (not an individual executive) — filings note separate affiliates and disclaimers of beneficial ownership.
Context
This was an institutional sale by a major investor (Silver Lake) and included conversions of Class B shares into Class C shares to effect the transactions. Sales by 10% owners are commonly routine portfolio or liquidity transactions and do not by themselves indicate management sentiment. The filing is factual (sales + conversion) and timely; motivations are not stated.
Insider Transaction Report
Form 4
Silver Lake Partners V DE (AIV), L.P.
Director10% Owner
Transactions
- Exercise/Conversion
Class C Common Stock
[F1][F2][F3][F4]2026-07-09+48,990→ 78,830 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F10][F3][F4]2026-07-09$448.17/sh−320$143,414→ 78,510 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F11][F3][F4]2026-07-09$449.22/sh−1,255$563,771→ 77,255 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F12][F3][F4]2026-07-09$450.17/sh−2,810$1,264,978→ 74,445 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F13][F3][F4]2026-07-09$451.08/sh−4,887$2,204,428→ 69,559 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F14][F3][F4]2026-07-09$452.07/sh−6,176$2,791,984→ 63,383 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F15][F3][F4]2026-07-09$453.06/sh−4,219$1,911,460→ 59,163 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F16][F3][F4]2026-07-09$454.10/sh−3,397$1,542,578→ 55,767 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F17][F3][F4]2026-07-09$455.06/sh−3,672$1,670,980→ 52,094 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F18][F3][F4]2026-07-09$456.06/sh−3,131$1,427,924→ 48,963 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F19][F3][F4]2026-07-09$457.08/sh−1,377$629,399→ 47,587 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F20][F3][F4]2026-07-09$457.97/sh−1,292$591,697→ 46,294 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F21][F3][F4]2026-07-09$459.11/sh−1,544$708,866→ 44,750 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F22][F3][F4]2026-07-09$460.02/sh−789$362,956→ 43,961 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Exercise/Conversion
Class B Common Stock
[F2][F1][F3][F4]2026-07-09−48,990→ 9,310,882 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.)→ Class C Common Stock (48,990 underlying)
Holdings
- 150,338(indirect: See footnotes)
Class C Common Stock
[F5][F6][F7] - 1,374,245
Class C Common Stock
[F8] - 49,237(indirect: See footnote)
Class C Common Stock
[F9] - 157,212(indirect: See footnote)
Class C Common Stock
[F23] - 34,324,339(indirect: See footnote)
Class B Common Stock
[F2][F24]→ Class C Common Stock (34,324,339 underlying)
Footnotes (24)
- [F1]Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. and certain of their respective affiliates sold certain shares of Class C Common Stock, par value $0.01 per share ("Class C Common Stock") of Dell Technologies Inc. (the "Issuer") on July 9, 2026.
- [F10]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $447.5921 to $448.5400 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F11]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $448.6027 to $449.5350 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F12]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $449.6000 to $450.5975 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F13]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $450.6000 to $451.5971 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F14]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $451.6061 to $452.5981 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F15]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $452.6000 to $453.5905 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F16]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $453.6000 to $454.5900 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F17]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $454.6000 to $455.5994 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F18]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $455.6010 to $456.5944 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F19]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $456.6000 to $457.5933 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F2]Each share of Class B Common Stock, par value $0.01 per share of the Issuer (the "Class B Common Stock") is convertible into one share of Class C Common Stock at any time, at the election of the holder or automatically upon certain transfers, and has no expiration date. On July 9, 2026, certain of the Reporting Persons converted shares of Class B Common Stock into an equal number of shares of Class C Common Stock in connection with the sales described in footnote (1) above.
- [F20]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $457.6065 to $458.5425 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F21]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $458.6278 to $459.6053 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F22]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $459.6595 to $460.4699 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F23]Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 89,222 shares of Class C Common Stock, Silver Lake Partners IV, L.P. directly holds 67,990 shares of Class C Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 0 shares of Class C Common Stock, and Silver Lake Technology Investors V, L.P. directly holds 0 shares of Class C Common Stock, which securities and transactions are reported on separate Form 4 filings.
- [F24]Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,756,126 shares of Class B Common Stock, Silver Lake Partners IV, L.P. directly holds 17,201,003 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 253,083 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 114,127 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
- [F3]These securities are directly held by Silver Lake Partners V DE (AIV), L.P. The general partner of Silver Lake Partners V DE (AIV), L.P. is Silver Lake Technology Associates V, L.P. and the general partner of Silver Lake Technology Associates V, L.P. is SLTA V (GP), L.L.C.
- [F4]Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA V (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as a Co-CEO and Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer.
- [F5]RESERVED
- [F6]RESERVED
- [F7]This amount reflects 29,494, 11,109, 28,109, 81,500 and 126 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P., SLG and Silver Lake Secondary Holdings L.P., respectively, on behalf of certain employees and managing members of SLG or its affiliates.
- [F8]Represents shares of Class C Common Stock held directly by Mr. Durban.
- [F9]Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.