Dell (DELL) 10% Owner Silver Lake Sells $15.6M in Shares

What Happened

• Silver Lake Partners V DE (AIV), L.P. (a Silver Lake affiliate and a reported >10% owner) sold 26,553 shares of Dell Technologies Class C common stock in multiple open-market transactions on September 17, 2026, generating total cash proceeds of approximately $15,557,542. The filer also reported the exercise/conversion of 38,139 derivative shares (conversion of Class B into Class C) in connection with the transactions.

Key Details

• Date of transactions: September 17, 2026; Form 4 filed September 21, 2026 (timely).
• Sale details: 26,553 shares sold in multiple trades at prices reported by block, with trade prices shown in the filing ranging roughly from $577.32 to $591.24 per share; total proceeds ≈ $15.56M. (Footnotes list weighted-average prices and exact price ranges per block.)
• Derivative activity: 38,139 shares were converted/exercised (M); footnote states Class B shares were converted into Class C shares in connection with the sales.
• Post-transaction holdings: This Form 4 does not list a consolidated post-sale balance for all Silver Lake entities; footnotes list related affiliates' holdings (see footnotes F25/F26) and note other affiliates filed separate Form 4s.
• Other notes: Multiple affiliate filings noted due to EDGAR limits; prices reported as weighted averages with ranges provided in footnotes. Transaction codes: S = sale, M = exercise/conversion.

Context

• This is institutional insider activity by a major shareholder (Silver Lake affiliate), not an individual executive buying or selling for personal reasons—such sales are often part of portfolio/position management.
• The conversion of Class B to Class C shares appears to have facilitated the open-market sales (a common administrative step for holders of different share classes).
• No indication in the filing of a 10b5-1 plan, gifts, or tax-withholding shares for this reporting person; see footnotes and related Form 4s for full details.