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Dell insider Silver Lake sells 57,631 shares

Dell Technologies Inc. (DELL) insider affiliates of Silver Lake, together with director Egon Durban, reported a series of transactions on September 8, 2026.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Dell Technologies Inc. (DELL) insider affiliates of Silver Lake, together with director Egon Durban, reported a series of transactions on September 8, 2026. Silver Lake Partners IV, L.P. converted 76,049 shares of Class B Common Stock into 76,049 shares of Class C Common Stock and then, through that entity, sold an aggregate of 57,631 shares of Class C Common Stock in multiple open-market transactions, while Mr. Durban also sold shares directly. The Class B shares are convertible into Class C on a one-for-one basis with no expiration, and after the transactions an affiliated entity continued to hold 25,845,974 Class B shares indirectly. No Rule 10b5-1 trading plan is reported, and several in-kind distributions and related holdings across Silver Lake entities and Durban’s affiliated vehicles were disclosed as exempt under Rule 16a-13.

Positive

  • None.

Negative

  • None.
Insider Silver Lake Partners IV, L.P., Silver Lake Technology Associates IV, L.P., SLTA IV (GP), L.L.C., Silver Lake Group, L.L.C., Durban Egon
Role Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director
Sold 57,631 shs ($30.38M)
Approx. gross sale proceeds $30.38M
Type Security Shares Price Value
Exercise Class B Common Stock F2, F1, F3, F4 76,049 $0.00 $0.00
Exercise Class C Common Stock F1, F2, F3, F4 76,049 -- --
Sale Class C Common Stock F10, F3, F4 770 $516.27 $398K
Sale Class C Common Stock F11, F3, F4 2,917 $517.42 $1.51M
Sale Class C Common Stock F12, F3, F4 2,548 $518.36 $1.32M
Sale Class C Common Stock F13, F3, F4 1,565 $519.31 $813K
Sale Class C Common Stock F14, F3, F4 806 $520.47 $419K
Sale Class C Common Stock F15, F3, F4 2,438 $521.71 $1.27M
Sale Class C Common Stock F16, F3, F4 1,633 $522.65 $853K
Sale Class C Common Stock F17, F3, F4 2,491 $523.81 $1.30M
Sale Class C Common Stock F18, F3, F4 2,932 $524.63 $1.54M
Sale Class C Common Stock F19, F3, F4 3,953 $525.75 $2.08M
Sale Class C Common Stock F20, F3, F4 3,184 $526.68 $1.68M
Sale Class C Common Stock F21, F3, F4 4,991 $527.70 $2.63M
Sale Class C Common Stock F22, F3, F4 3,317 $528.68 $1.75M
Sale Class C Common Stock F23, F3, F4 5,930 $529.83 $3.14M
Sale Class C Common Stock F24, F3, F4 2,477 $530.66 $1.31M
Sale Class C Common Stock F25, F3, F4 4,244 $531.92 $2.26M
Sale Class C Common Stock F26, F3, F4 2,048 $532.85 $1.09M
Sale Class C Common Stock F27, F3, F4 1,846 $533.85 $985K
Sale Class C Common Stock F28, F3, F4 1,874 $534.94 $1.00M
Sale Class C Common Stock F29, F3, F4 1,531 $535.73 $820K
Sale Class C Common Stock F30, F3, F4 1,236 $536.40 $663K
Sale Class C Common Stock F31, F8 1,047 $528.19 $553K
Sale Class C Common Stock F32, F8 899 $529.26 $476K
Sale Class C Common Stock F33, F8 954 $529.92 $506K
holding Class B Common Stock F2, F35 -- -- --
holding Class C Common Stock F4, F5 -- -- --
holding Class C Common Stock F6 -- -- --
holding Class C Common Stock F7 -- -- --
holding Class C Common Stock F9 -- -- --
holding Class C Common Stock F34 -- -- --
Holdings After Transaction: Class B Common Stock — 16,818,228 contracts (Indirect, Held through Silver Lake Partners IV, L.P.); Class C Common Stock — 106,837 shares (Indirect, Held through Silver Lake Partners IV, L.P.); Class C Common Stock — 1,398,935 shares (Direct); Class B Common Stock — 25,845,974 contracts (Indirect, See footnote); Class C Common Stock — 2,562 shares (Indirect, Held through Silver Lake Group, L.L.C.); Class C Common Stock — 303,799 shares (Indirect, See footnote)
Footnotes (35)
  1. 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 September 8, 2026 and initiated in-kind distributions of shares of Class C Common Stock on September 8, 2026. The receipt of shares of Class C Common Stock by each of the Reporting Persons in connection with such distributions was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
  2. 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 September 8, 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 and distributions described in footnote (1) above.
  3. F3. These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners 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.
  4. 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 the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer.
  5. F5. Reflects shares of Class C Common Stock held by SLG, including shares received in connection with the distribution of shares of Class C Common Stock described herein on September 8, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
  6. F6. These shares of Class C Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest, including shares received in connection with the distributions of shares of Class C Common Stock on September 8, 2026. The receipt of such shares of Class C Common Stock indirectly by Mr. Durban was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
  7. F7. In connection with the distributions described in footnote (1) above, distributions of certain shares were initiated to certain employees and managing members of SLG or its affiliates, including Mr. Durban. This amount reflects 38,913, 123,469, 33,939 and 18,311 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P. and SLG, respectively, on behalf of such individuals, including shares distributed in the September 8, 2026 distributions. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
  8. F8. Represents shares of Class C Common Stock held directly by Mr. Durban, including shares received by Mr. Durban in connection with the distribution of shares of Class C Common Stock described herein on September 8, 2026. The deemed receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
  9. F9. Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members, including shares received in connection with the distributions of shares of Class C Common Stock on September 8, 2026. The receipt of such shares of Class C Common Stock indirectly by Mr. Durban was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
  10. F10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $515.8700 to $516.6300 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.
  11. F11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $516.9351 to $517.9300 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.
  12. F12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $517.9400 to $518.9300 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.
  13. F13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $518.9400 to $519.8700 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.
  14. F14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $519.9900 to $520.9600 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.
  15. F15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $521.1960 to $522.1952 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.
  16. F16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $522.1979 to $523.1700 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.
  17. F17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $523.2000 to $524.1998 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.
  18. F18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $524.2092 to $525.1921 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.
  19. F19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $525.2148 to $526.2100 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.
  20. F20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $526.2200 to $527.2100 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.
  21. F21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $527.2200 to $528.2100 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.
  22. F22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $528.2300 to $529.2000 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.
  23. F23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $529.2800 to $530.2600 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.
  24. F24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $530.3000 to $531.2700 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.
  25. F25. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $531.4200 to $532.4000 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.
  26. F26. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $532.4200 to $533.3900 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.
  27. F27. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.4900 to $534.4800 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.
  28. F28. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $534.4900 to $535.4100 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.
  29. F29. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $535.5000 to $536.0000 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.
  30. F30. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.0400 to $537.0000 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.
  31. F31. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $527.5466 to $528.5323 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.
  32. F32. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $528.6242 to $529.6000 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.
  33. F33. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $529.7000 to $530.2000 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.
  34. F34. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 24,134 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 12,470 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.
  35. F35. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,383,250 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,103,686 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 247,451 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 111,587 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Class C shares sold 57,631 shares Aggregate Class C Common Stock sales reported for September 8, 2026
Class B to Class C conversion 76,049 shares Class B Common Stock converted into Class C Common Stock on September 8, 2026
Indirect Class B holdings 25,845,974 shares Class B Common Stock indirectly held after the reported transactions, each convertible into one Class C share
Price range of sales $515.87–$537.00 per share Weighted-average price ranges for multiple sale tranches, from footnotes F10–F30
Class B shares at Silver Lake Partners IV, L.P. 16,818,228 shares Class B Common Stock indirectly held through Silver Lake Partners IV, L.P. after the 76,049-share conversion
Indirect Class C holdings at Silver Lake Group, L.L.C. 2,562 shares Class C Common Stock held by Silver Lake Group, L.L.C., including distributed shares, as described in the footnotes
Class C shares held by SL SPV-2, L.P. 24,134 shares Direct Class C Common Stock holdings after the distributions, reported in footnote F34
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Rule 16a-13 regulatory
"The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act."
pecuniary interest financial
"each Reporting Person disclaims beneficial ownership of these securities, except to the extent of such Reporting Person's pecuniary interest therein"
director by deputization regulatory
"Each of the Reporting Persons may be deemed a director by deputization of the Issuer."
indirect pecuniary interest financial
"held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest"

FAQ

How many Dell (DELL) shares were sold in the reported transactions?
The Form 4 states that Silver Lake-related entities and Egon Durban together sold 57,631 shares of Class C Common Stock on September 8, 2026. These sales occurred in multiple open-market transactions at various weighted-average prices disclosed in the footnotes.

At what prices were the Dell (DELL) shares sold by the Silver Lake affiliates and Egon Durban?
The reported sales of Class C Common Stock occurred at weighted-average prices in multiple trades, with ranges from approximately $515.87 to $537.00 per share, as detailed across footnotes F10 through F33, each covering a specific subset of the transactions.

What conversion of Dell (DELL) shares did Silver Lake Partners IV, L.P. report?
Silver Lake Partners IV, L.P. reported converting 76,049 shares of Class B Common Stock into 76,049 shares of Class C Common Stock on September 8, 2026. Each Class B share is convertible into one Class C share at any time and has no expiration, according to the disclosure.

How many Dell (DELL) Class B shares remain held indirectly after these transactions?
The filing notes that an affiliated entity indirectly holds 25,845,974 shares of Class B Common Stock following the reported transactions. Each of these Class B shares is convertible into one share of Class C Common Stock, providing a significant remaining indirect position.

Were the Dell (DELL) insider sales under a Rule 10b5-1 trading plan?
No. The document-level checkbox indicates no Rule 10b5-1 trading plan for these transactions. The footnotes instead describe open-market sales and in-kind distributions and note that certain receipt transactions were exempt under Rule 16a-13 of the Exchange Act.

What in-kind distributions of Dell (DELL) shares were disclosed for Silver Lake and Egon Durban?
Footnotes state that Silver Lake funds and affiliates initiated in-kind distributions of Class C shares on September 8, 2026 to various entities and individuals, including Egon Durban and certain employees. These deemed or indirect receipts were described as exempt under Rule 16a-13.

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SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Silver Lake Partners IV, L.P.
(Last)(First)(Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100
(Street)
MENLO PARK CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Dell Technologies Inc. [ DELL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/08/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Class C Common Stock09/08/2026M(1)(2)76,049A(1)(2)161,569IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S770D$516.27(10)160,799IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S2,917D$517.42(11)157,882IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S2,548D$518.36(12)155,333IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S1,565D$519.31(13)153,769IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S806D$520.47(14)152,962IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S2,438D$521.71(15)150,524IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S1,633D$522.65(16)148,891IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S2,491D$523.81(17)146,401IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S2,932D$524.63(18)143,469IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S3,953D$525.75(19)139,515IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S3,184D$526.68(20)136,331IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S4,991D$527.7(21)131,340IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S3,317D$528.68(22)128,024IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S5,930D$529.83(23)122,093IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S2,477D$530.66(24)119,617IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S4,244D$531.92(25)115,372IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S2,048D$532.85(26)113,324IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S1,846D$533.85(27)111,478IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S1,874D$534.94(28)109,604IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S1,531D$535.73(29)108,073IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S1,236D$536.4(30)106,837IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock09/08/2026S1,047D$528.19(31)1,400,788D(8)
Class C Common Stock09/08/2026S899D$529.26(32)1,399,889D(8)
Class C Common Stock09/08/2026S954D$529.92(33)1,398,935D(8)
Class C Common Stock2,562IHeld through Silver Lake Group, L.L.C.(4)(5)
Class C Common Stock1,390ISee footnote(6)
Class C Common Stock214,632ISee footnote(7)
Class C Common Stock51,173ISee footnote(9)
Class C Common Stock36,604ISee footnote(34)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Class B Common Stock(2)09/08/2026M(1)(2)76,049 (2) (2)Class C Common Stock76,049$016,818,228IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class B Common Stock(2) (2) (2)Class C Common Stock25,845,97425,845,974ISee footnote(35)
1. Name and Address of Reporting Person*
Silver Lake Partners IV, L.P.
(Last)(First)(Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100
(Street)
MENLO PARK CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Silver Lake Technology Associates IV, L.P.
(Last)(First)(Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100
(Street)
MENLO PARK CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
SLTA IV (GP), L.L.C.
(Last)(First)(Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100
(Street)
MENLO PARK CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Silver Lake Group, L.L.C.
(Last)(First)(Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100
(Street)
MENLO PARK CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Durban Egon
(Last)(First)(Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100
(Street)
MENLO PARK CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirector10% Owner
Officer (give title below)Other (specify below)
Explanation of Responses:
1. 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 September 8, 2026 and initiated in-kind distributions of shares of Class C Common Stock on September 8, 2026. The receipt of shares of Class C Common Stock by each of the Reporting Persons in connection with such distributions was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
2. 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 September 8, 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 and distributions described in footnote (1) above.
3. These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners 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.
4. 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 the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer.
5. Reflects shares of Class C Common Stock held by SLG, including shares received in connection with the distribution of shares of Class C Common Stock described herein on September 8, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
6. These shares of Class C Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest, including shares received in connection with the distributions of shares of Class C Common Stock on September 8, 2026. The receipt of such shares of Class C Common Stock indirectly by Mr. Durban was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
7. In connection with the distributions described in footnote (1) above, distributions of certain shares were initiated to certain employees and managing members of SLG or its affiliates, including Mr. Durban. This amount reflects 38,913, 123,469, 33,939 and 18,311 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P. and SLG, respectively, on behalf of such individuals, including shares distributed in the September 8, 2026 distributions. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
8. Represents shares of Class C Common Stock held directly by Mr. Durban, including shares received by Mr. Durban in connection with the distribution of shares of Class C Common Stock described herein on September 8, 2026. The deemed receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
9. Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members, including shares received in connection with the distributions of shares of Class C Common Stock on September 8, 2026. The receipt of such shares of Class C Common Stock indirectly by Mr. Durban was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $515.8700 to $516.6300 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.
11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $516.9351 to $517.9300 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.
12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $517.9400 to $518.9300 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.
13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $518.9400 to $519.8700 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.
14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $519.9900 to $520.9600 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.
15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $521.1960 to $522.1952 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.
16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $522.1979 to $523.1700 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.
17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $523.2000 to $524.1998 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.
18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $524.2092 to $525.1921 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.
19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $525.2148 to $526.2100 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.
20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $526.2200 to $527.2100 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.
21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $527.2200 to $528.2100 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.
22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $528.2300 to $529.2000 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.
23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $529.2800 to $530.2600 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.
24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $530.3000 to $531.2700 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.
25. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $531.4200 to $532.4000 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.
26. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $532.4200 to $533.3900 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.
27. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.4900 to $534.4800 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.
28. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $534.4900 to $535.4100 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.
29. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $535.5000 to $536.0000 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.
30. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.0400 to $537.0000 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.
31. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $527.5466 to $528.5323 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.
32. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $528.6242 to $529.6000 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.
33. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $529.7000 to $530.2000 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.
34. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 24,134 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 12,470 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.
35. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,383,250 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,103,686 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 247,451 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 111,587 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Remarks:
The Reporting Persons are jointly filing this Form 4 pursuant to Rule 16a-3(j) under the Exchange Act. This filing shall not be deemed an admission that the Reporting Persons are beneficial owners of all securities covered by this filing for purposes of Section 16 of the Exchange Act or otherwise, and each Reporting Person disclaims beneficial ownership of these securities, except to the extent of such Reporting Person's pecuniary interest therein, if any. Due to certain reporting restrictions including that no more than 30 transactions can be listed on each Table of the Form 4 filing and no more than 10 reporting persons can file any one Form 4 through the Securities and Exchange Commission's EDGAR system, certain affiliates of the Reporting Persons have filed separate Forms 4 reporting additional transactions.
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C., general partner of Silver Lake Technology Associates IV, L.P., general partner of Silver Lake Partners IV, L.P.09/10/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C., general partner of Silver Lake Technology Associates IV, L.P.09/10/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C.09/10/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C.09/10/2026
By: /s/ Justin G. Hamill, Attorney-in-fact for Egon Durban09/10/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

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