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 1,332 Shares
What Happened
- Silver Lake Technology Investors IV, L.P. (a 10% owner / institutional investor) converted/exercised 1,332 derivative shares into Class C common stock and then sold those 1,332 shares in multiple open‑market transactions on July 9, 2026. The sales totaled approximately $604,115, at an average price of about $453.54 per share.
- This was a disposal (sale) of shares, not a purchase — a routine institutional sale following conversion/exercise of convertible/derivative holdings. The Form 4 was filed jointly with affiliated reporting persons.
Key Details
- Transaction date: July 9, 2026 (reported on Form 4 filed July 13, 2026 — timely).
- Activity: M (exercise/conversion of derivative) for 1,332 shares (acquired), immediately followed by S (open‑market sale) of 1,332 shares.
- Prices/proceeds: Multiple trades at prices ranging roughly from $447.59 to $460.47 across lots; total proceeds ≈ $604,115; weighted average ≈ $453.54/share.
- Shares held after transaction: Not specified for Silver Lake Technology Investors IV on this Form 4; related affiliates’ post‑transaction holdings are reported on separate Form 4s (see footnotes).
- Notable footnotes: F1 and F2 say affiliates converted Class B into Class C and sold shares on July 9; multiple affiliates and transactions were reported separately due to filing limits. F4 notes ties between the reporting entities and Egon Durban (a Dell director), but this filing is by the entities (institutional), not an individual officer/director trade.
- Filing timeliness: Filed within the required reporting window (no late filing flag).
Context
- This appears to be a cash‑out of converted/derivative shares (exercise/conversion immediately followed by sale), i.e., the shares were converted/exercised and then sold rather than being held — common for institutional portfolio management or liquidity needs.
- As a 10% owner filing through an entity, this is institutional trading rather than a direct message about management’s view of Dell’s near‑term prospects. The Form 4 also disclaims beneficial ownership beyond each reporting person’s pecuniary interest; related entities reported additional transactions separately.
Insider Transaction Report
Form 4
Silver Lake Technology Investors IV, L.P.
Director10% Owner
Transactions
- Exercise/Conversion
Class C Common Stock
[F1][F2][F3][F4]2026-07-09+1,332→ 1,332 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F10][F3][F4]2026-07-09$448.17/sh−12$5,378→ 1,320 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F11][F3][F4]2026-07-09$449.22/sh−48$21,563→ 1,272 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F12][F3][F4]2026-07-09$450.17/sh−107$48,168→ 1,164 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F13][F3][F4]2026-07-09$451.08/sh−187$84,352→ 978 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F14][F3][F4]2026-07-09$452.07/sh−236$106,689→ 742 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F15][F3][F4]2026-07-09$453.06/sh−161$72,943→ 581 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F16][F3][F4]2026-07-09$454.10/sh−130$59,033→ 451 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F17][F3][F4]2026-07-09$455.06/sh−140$63,708→ 311 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F18][F3][F4]2026-07-09$456.06/sh−120$54,727→ 191 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F19][F3][F4]2026-07-09$457.08/sh−53$24,225→ 138 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F20][F3][F4]2026-07-09$457.97/sh−49$22,441→ 89 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F21][F3][F4]2026-07-09$459.11/sh−59$27,087→ 30 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F22][F3][F4]2026-07-09$460.02/sh−30$13,801→ 0 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Exercise/Conversion
Class B Common Stock
[F2][F1][F3][F4]2026-07-09−1,332→ 253,083 total(indirect: Held through Silver Lake Technology Investors IV, L.P.)→ Class C Common Stock (1,332 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] - 201,173(indirect: See footnote)
Class C Common Stock
[F23] - 43,382,138(indirect: See footnote)
Class B Common Stock
[F2][F24]→ Class C Common Stock (43,382,138 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 Partners V DE (AIV), L.P. directly holds 43,961 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 Partners V DE (AIV), L.P. directly holds 9,310,882 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 Technology Investors IV, L.P. The general partner of Silver Lake Technology Investors IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C.
- [F4]Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (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.