[144] Dell Technologies Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 notice for DELL (Class C Common Stock) shows a proposed sale through Merrill Lynch of 141 shares with an aggregate market value of $18,624.69, scheduled for 09/25/2025 on the NYSE. The filing states the shares were acquired in pro rata in-kind distributions upon conversion of Class B Common Stock that was originally acquired in 2019 or earlier. Acquisition details list 29 shares acquired 09/17/2025, 71 shares on 09/22/2025 and 41 shares on 09/25/2025. The filing also discloses extensive related-party sales during the prior three months by multiple Silver Lake entities, including large block sales on 09/22/2025 and other dates, with individual proceeds reaching tens of millions of dollars.

Positive

• Filing provides acquisition provenance showing shares resulted from in-kind distributions upon conversion of Class B shares acquired in 2019 or earlier
• Broker and sale details disclosed (Merrill Lynch, NYSE execution date 09/25/2025), meeting Rule 144 disclosure requirements

Negative

• Extensive related-party sales in the prior three months by Silver Lake entities, including a 343,038-share sale on 09/22/2025 for $46,644,308.70, indicating significant affiliate liquidity
• Large cumulative dispositions by affiliated holders across June–September 2025, with many multi-hundred-thousand-share transactions and proceeds in the tens of millions

Insights

Securities Analyst

TL;DR Small current proposed sale but extensive recent related-party disposals indicate significant liquidity events by affiliated holders.

The Form 144 documents a modest proposed sale of 141 Class C shares valued at $18,624.69 to be executed by Merrill Lynch on 09/25/2025, with the shares traced to in-kind conversions of Class B shares acquired in 2019 or earlier. Material context comes from the table of sales in the prior three months: multiple Silver Lake-affiliated entities executed numerous large block sales across June, July and September 2025, including a 343,038-share sale on 09/22/2025 for $46,644,308.70. For investors, the immediate filing is routine and compliant, but the pattern of sizeable affiliated sales is a material disclosure about insider/affiliate liquidity and share supply in the market.

Compliance / Corporate Governance Expert

TL;DR Filing appears procedurally complete and includes acquisition provenance, supporting Rule 144 disclosure requirements.

The notice provides required information: broker name and address, class of security, number of shares to be sold, aggregate market value, approximate sale date and details on how the shares were acquired (in-kind distributions upon Class B conversion). The signer represents no undisclosed material adverse information. The record of multiple prior sales by affiliated entities is fully disclosed, which supports regulatory transparency. From a governance perspective, the form meets the disclosure standard for proposed sales under Rule 144.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class C Common Stock	Merrill Lynch, Pierce, Fenner & Smith Inc. 555 California Street, 18th Floor San Francisco CA 94104	141	18624.69	336904619	09/25/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class C Common Stock	09/17/2025	Acquired in a series of pro rata in-kind distributions from affiliates, which shares were acquired upon conversion of Class B Common Stock of the Issuer, which Class B Common Stock was acquired in 2019 or earlier.	SLTA SPV-2, L.P.			29	09/17/2025	See "Nature of Acquisition"
Class C Common Stock	09/22/2025	Acquired in a series of pro rata in-kind distributions from affiliates, which shares were acquired upon conversion of Class B Common Stock of the Issuer, which Class B Common Stock was acquired in 2019 or earlier.	SLTA SPV-2, L.P.			71	09/22/2025	See "Nature of Acquisition"
Class C Common Stock	09/25/2025	Acquired in a series of pro rata in-kind distributions from affiliates, which shares were acquired upon conversion of Class B Common Stock of the Issuer, which Class B Common Stock was acquired in 2019 or earlier.	SLTA SPV-2, L.P.			41	09/25/2025	See "Nature of Acquisition"

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Silver Lake Partners IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	06/26/2025	257022	32435175.81
Silver Lake Partners V DE (AIV), L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	06/26/2025	133653	16866488.29
SL SPV-2, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	06/26/2025	227169	28667843.43
Silver Lake Technology Investors IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	06/26/2025	4932	622399.20
Silver Lake Technology Investors V, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	06/26/2025	2224	280660.14
Silver Lake Partners IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/10/2025	248389	31612468.03
Silver Lake Partners V DE (AIV), L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/10/2025	127897	16277451.19
SL SPV-2, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/10/2025	216862	27600026.74
Silver Lake Technology Investors IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/10/2025	4722	600968.94
Silver Lake Technology Investors V, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/10/2025	2130	271085.10
Silver Lake Partners IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/15/2025	71640	9027475.11
Silver Lake Partners V DE (AIV), L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/15/2025	36912	4651342.28
SL SPV-2, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/15/2025	62574	7885053.43
Silver Lake Technology Investors IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/15/2025	1362	171627.88
Silver Lake Technology Investors V, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/15/2025	614	77371.16
Silver Lake Partners IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/16/2025	1616	202469.57
Silver Lake Partners V DE (AIV), L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/16/2025	832	104241.76
SL SPV-2, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/16/2025	1407	176283.84
Silver Lake Technology Investors IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/16/2025	31	3884.01
Silver Lake Technology Investors V, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/16/2025	14	1754.07
Silver Lake Group, L.L.C. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/17/2025	3262	402846.32
Silver Lake Management Company III, L.L.C. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/17/2025	509	62859.83
Silver Lake Management Company IV, L.L.C. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/17/2025	1170	144491.17
Silver Lake Management Company V, L.L.C. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/17/2025	1076	132882.48
Silver Lake Technology Management, L.L.C. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/17/2025	69	8521.27
Durban Family Foundation c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	07/17/2025	60000	7417644.00
Silver Lake Partners IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/15/2025	249260	31654726.16
Silver Lake Partners V DE (AIV), L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/15/2025	128377	16303212.63
SL SPV-2, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/15/2025	215487	27365730.46
Silver Lake Technology Investors IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/15/2025	4739	601828.40
Silver Lake Technology Investors V, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/15/2025	2137	271387.91
Silver Lake Partners IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/17/2025	234803	30622590.25
Silver Lake Partners V DE (AIV), L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/17/2025	120805	15755173.55
SL SPV-2, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/17/2025	202914	26463683.50
Silver Lake Technology Investors IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/17/2025	4465	582317.37
Silver Lake Technology Investors V, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/17/2025	2013	262531.88
Silver Lake Partners IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/18/2025	234855	31076221.68
Silver Lake Partners V DE (AIV), L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/18/2025	120761	15979202.51
SL SPV-2, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/18/2025	202905	26848569.37
Silver Lake Technology Investors IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/18/2025	4465	590812.76
Silver Lake Technology Investors V, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/18/2025	2014	266494.26
Silver Lake Partners IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/19/2025	132258	17569232.87
Silver Lake Partners V DE (AIV), L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/19/2025	68000	9033161.21
SL SPV-2, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/19/2025	114263	15178766.16
Silver Lake Technology Investors IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/19/2025	2516	334226.96
Silver Lake Technology Investors V, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/19/2025	1134	150641.25
Silver Lake Partners IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/22/2025	343038	46644308.70
Silver Lake Partners V DE (AIV), L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/22/2025	176219	23961232.97
SL SPV-2, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/22/2025	296277	40286020.35
Silver Lake Technology Investors IV, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/22/2025	6524	887095.51
Silver Lake Technology Investors V, L.P. c/o Silver Lake 2775 Sand Hill Road, Suite 100 Menlo Park, CA 94025	Class C Common Stock	09/22/2025	2942	400036.02

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the DELL Form 144 filed here disclose?

The filing discloses a proposed sale of 141 Class C shares through Merrill Lynch on 09/25/2025 with aggregate market value $18,624.69 and acquisition traced to conversions of Class B shares.

Who is the broker and where will the DELL shares be sold?

The broker listed is Merrill Lynch, Pierce, Fenner & Smith Inc., 555 California Street, San Francisco, CA, and the sale is to occur on the NYSE.

When were the 141 shares acquired and how?

The shares were acquired in pro rata in-kind distributions upon conversion of Class B Common Stock: 29 shares on 09/17/2025, 71 on 09/22/2025, and 41 on 09/25/2025.

Does the filing disclose prior related-party sales?

Yes. The Form 144 lists numerous sales in the prior three months by Silver Lake-related entities, including large block sales on multiple dates (for example, 343,038 shares on 09/22/2025 for $46,644,308.70).

Does the filer attest to material non-public information?

By signing the notice, the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed.