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  4. [Form 4] Dell Technologies Inc. Insider Trading Activity

Dell holder Silver Lake sells 24,791 Dell shares

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

Rhea-AI Filing Summary

Dell Technologies Inc. (DELL) was the subject of a Form 4 in which Silver Lake-affiliated entity SL SPV-2, L.P. and related reporting persons converted 36,773 shares of Class B Common Stock into the same number of Class C shares on September 14, 2026, then sold 24,791 Class C shares in multiple open-market transactions at weighted average prices in the low-to-mid $530s per share. After these transactions, Silver Lake-affiliated entities continued to hold a large indirect position, including Class B Common Stock convertible into 25,935,801 Class C shares, and Egon Durban and related entities continued to hold additional direct and indirect Class C stakes as described in the footnotes.

Positive

  • None.

Negative

  • None.
Insider SL SPV-2, L.P., SLTA SPV-2, L.P., SLTA SPV-2 (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 24,791 shs ($13.24M)
Approx. gross sale proceeds $13.24M
Type Security Shares Price Value
Exercise Class B Common Stock F2, F1, F3, F4 36,773 $0.00 $0.00
Exercise Class C Common Stock F1, F2, F3, F4 36,773 -- --
Sale Class C Common Stock F10, F3, F4 4,505 $530.67 $2.39M
Sale Class C Common Stock F11, F3, F4 6,674 $531.63 $3.55M
Sale Class C Common Stock F12, F3, F4 2,589 $532.62 $1.38M
Sale Class C Common Stock F13, F3, F4 1,792 $533.80 $957K
Sale Class C Common Stock F14, F3, F4 1,528 $534.55 $817K
Sale Class C Common Stock F15, F3, F4 1,158 $535.76 $620K
Sale Class C Common Stock F16, F3, F4 562 $536.74 $302K
Sale Class C Common Stock F17, F3, F4 1,808 $537.94 $973K
Sale Class C Common Stock F18, F3, F4 2,602 $539.00 $1.40M
Sale Class C Common Stock F19, F3, F4 485 $540.18 $262K
Sale Class C Common Stock F20, F3, F4 459 $540.82 $248K
Sale Class C Common Stock F21, F3, F4 546 $542.13 $296K
Sale Class C Common Stock F22, F3, F4 83 $543.04 $45K
holding Class B Common Stock F2, F24 -- -- --
holding Class C Common Stock F4, F5 -- -- --
holding Class C Common Stock F6 -- -- --
holding Class C Common Stock F7 -- -- --
holding Class C Common Stock F8 -- -- --
holding Class C Common Stock F9 -- -- --
holding Class C Common Stock F23 -- -- --
Holdings After Transaction: Class B Common Stock — 16,168,089 contracts (Indirect, Held through SL SPV-2, L.P.); Class C Common Stock — 46,873 shares (Indirect, Held through SL SPV-2, L.P.); Class B Common Stock — 25,935,801 contracts (Indirect, See footnote); Class C Common Stock — 3,215 shares (Indirect, Held through Silver Lake Group, L.L.C.); Class C Common Stock — 358,288 shares (Indirect, See footnote); Class C Common Stock — 1,395,650 shares (Direct)
Footnotes (24)
  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 14, 2026.
  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 14, 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.
  3. F3. These securities are held by SL SPV-2, L.P. The general partner of SL SPV-2, L.P. is SLTA SPV-2, L.P. and the general partner of SLTA SPV-2, L.P. is SLTA SPV-2 (GP), L.L.C.
  4. F4. Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA SPV-2 (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.
  6. F6. Reflects shares of Class C Common Stock held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest.
  7. F7. This amount reflects 41,375, 137,789, 35,426 and 24,766 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 certain employees and managing members of SLG or its affiliates.
  8. F8. Reflects shares of Class C Common Stock held directly by Mr. Durban. Mr. Durban has filed a separate Form 4 reporting transactions in securities of the Issuer on September 14, 2026.
  9. F9. Reflects shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.
  10. F10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $530.0600 to $531.0500 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 $531.0700 to $532.0600 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 $532.0900 to $533.0000 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.
  13. F13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.1800 to $534.1600 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 $534.2000 to $535.1400 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 $535.2100 to $536.2000 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.
  16. F16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.4700 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.
  17. F17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $537.4900 to $538.4300 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 $538.5400 to $539.5200 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 $539.6300 to $540.5300 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 $540.6500 to $540.8800 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 $541.8000 to $542.6800 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 $543.0000 to $543.4600 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. Following the transactions described in footnote (1), Silver Lake Partners IV, L.P. directly holds 41,400 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 24,237 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.
  24. F24. Following the transactions described in footnote (1), Silver Lake Partners IV, L.P. directly holds 16,597,353 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 8,984,126 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 244,201 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 110,121 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Class B shares converted 36,773 shares Class B Common Stock converted into Class C on September 14, 2026
Class C shares acquired via conversion 36,773 shares Class C Common Stock received from Class B conversion on September 14, 2026
Class C shares sold 24,791 shares Aggregate of 13 open-market sale transactions on September 14, 2026
Sale price ranges $530.06–$543.46 per share Weighted average price ranges across sale groups as disclosed in footnotes
Convertible Class B position 25,935,801 underlying shares Class B Common Stock indirectly held and convertible into Class C
Durban direct Class C holding 1,395,650 shares Shares of Class C Common Stock held directly by Egon Durban after the transactions
Class C held through Silver Lake Group, L.L.C. 3,215 shares Indirect Class C Common Stock holding through Silver Lake Group, L.L.C.
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.
convertible financial
"Each share of Class B Common Stock ... is convertible into one share of Class C"
A convertible is a type of investment that starts as a loan or preferred stake (like a bond or preferred share) but can be exchanged for common shares of the company at a set price or under certain conditions. It matters to investors because it offers a mix of steady income and downside protection like a loan, plus the upside of stock ownership if the company does well—similar to holding a coupon that you can trade for a full ticket if the event becomes valuable.
pecuniary interest financial
"each Reporting Person disclaims beneficial ownership ... except to the extent of such Reporting Person's pecuniary interest"
indirect pecuniary interest financial
"entities in which Mr. Durban may be deemed to have an indirect pecuniary interest."
director by deputization regulatory
"Each of the Reporting Persons may be deemed a director by deputization of the Issuer."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider activity at DELL did Silver Lake affiliates report on September 14, 2026?
Silver Lake-affiliated SL SPV-2, L.P. and related reporting persons reported converting 36,773 Class B shares into 36,773 Class C shares of Dell Technologies Inc. and selling 24,791 Class C shares in multiple open-market transactions on September 14, 2026.

How many Dell (DELL) shares did Silver Lake entities sell and at what prices?
They reported selling an aggregate of 24,791 Class C shares in 13 tranches at weighted average prices, with ranges disclosed in the footnotes between approximately $530.06 and $543.46 per share, inclusive, across the separate sale groupings.

What Dell (DELL) Class B position do Silver Lake entities retain after these transactions?
Footnotes state Silver Lake entities directly hold Class B Common Stock convertible into an aggregate of 25,935,801 Class C shares, including 16,597,353, 8,984,126, 244,201, and 110,121 Class B shares across four Silver Lake funds reported on separate Forms 4.

Were the Dell (DELL) insider sales made under a Rule 10b5-1 trading plan?
No. The filing’s Rule 10b5-1 checkbox is not marked as being pursuant to a trading plan, and the footnotes do not state that the September 14, 2026 transactions were executed under a Rule 10b5-1 plan.

How many Dell (DELL) shares does Egon Durban hold directly after these transactions?
A footnote reports that Egon Durban directly holds 1,395,650 shares of Dell Class C Common Stock after the September 14, 2026 transactions, separate from additional indirect beneficial ownership through certain entities and a family trust.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →
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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*
SL SPV-2, 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)
09/14/2026		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 Stock09/14/2026M(1)(2)36,773A(1)(2)71,664IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S4,505D$530.67(10)67,159IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S6,674D$531.63(11)60,485IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S2,589D$532.62(12)57,896IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S1,792D$533.8(13)56,104IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S1,528D$534.55(14)54,576IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S1,158D$535.76(15)53,417IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S562D$536.74(16)52,856IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S1,808D$537.94(17)51,048IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S2,602D$539(18)48,446IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S485D$540.18(19)47,961IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S459D$540.82(20)47,502IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S546D$542.13(21)46,956IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock09/14/2026S83D$543.04(22)46,873IHeld through SL SPV-2, L.P.(3)(4)
Class C Common Stock3,215IHeld through Silver Lake Group, L.L.C.(4)(5)
Class C Common Stock1,862ISee footnote(6)
Class C Common Stock239,356ISee footnote(7)
Class C Common Stock1,395,650D(8)
Class C Common Stock51,433ISee footnote(9)
Class C Common Stock65,637ISee footnote(23)
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)09/14/2026M(1)(2)36,773 (2) (2)Class C Common Stock36,773$016,168,089IHeld through SL SPV-2, L.P.(3)(4)
Class B Common Stock(2) (2) (2)Class C Common Stock25,935,80125,935,801ISee footnote(24)
1. Name and Address of Reporting Person*
SL SPV-2, 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 SPV-2, 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 SPV-2 (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 14, 2026.
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 14, 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.
3. These securities are held by SL SPV-2, L.P. The general partner of SL SPV-2, L.P. is SLTA SPV-2, L.P. and the general partner of SLTA SPV-2, L.P. is SLTA SPV-2 (GP), L.L.C.
4. Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA SPV-2 (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.
6. Reflects shares of Class C Common Stock held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest.
7. This amount reflects 41,375, 137,789, 35,426 and 24,766 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 certain employees and managing members of SLG or its affiliates.
8. Reflects shares of Class C Common Stock held directly by Mr. Durban. Mr. Durban has filed a separate Form 4 reporting transactions in securities of the Issuer on September 14, 2026.
9. Reflects shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.
10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $530.0600 to $531.0500 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 $531.0700 to $532.0600 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 $532.0900 to $533.0000 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.
13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.1800 to $534.1600 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 $534.2000 to $535.1400 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 $535.2100 to $536.2000 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.
16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.4700 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.
17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $537.4900 to $538.4300 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 $538.5400 to $539.5200 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 $539.6300 to $540.5300 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 $540.6500 to $540.8800 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 $541.8000 to $542.6800 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 $543.0000 to $543.4600 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. Following the transactions described in footnote (1), Silver Lake Partners IV, L.P. directly holds 41,400 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 24,237 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.
24. Following the transactions described in footnote (1), Silver Lake Partners IV, L.P. directly holds 16,597,353 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 8,984,126 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 244,201 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 110,121 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 SPV-2 (GP), L.L.C., general partner of SLTA SPV-2, L.P., general partner of SL SPV-2, L.P.09/16/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA SPV-2 (GP), L.L.C., general partner of SLTA SPV-2, L.P.09/16/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA SPV-2 (GP), L.L.C.09/16/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C.09/16/2026
By: /s/ Justin G. Hamill, Attorney-in-fact for Egon Durban09/16/2026
** 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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