Silver Lake funds make in-kind Dell share distributions

Silver Lake–affiliated entities that serve as directors and more than 10% owners of Dell Technologies reported in-kind distributions of Class C Common Stock on July 10, 2026.

Rhea-AI Filing Summary

Silver Lake–affiliated entities that serve as directors and more than 10% owners of Dell Technologies reported in-kind distributions of Class C Common Stock on July 10, 2026. J‑code “other acquisition or disposition” entries cover 201,173 shares, reflecting changes in how shares are held among Silver Lake funds and affiliates, with receipts exempt under Rule 16a‑13 of the Exchange Act.

Insider Trade Summary

Other: 201,173 shares

Other 8 txns

Insider SLTA V (GP), L.L.C., Silver Lake Technology Associates V, L.P., Silver Lake Partners V DE (AIV), L.P.

Role Director, 10% Owner | Director, 10% Owner | Director, 10% Owner

Type	Security	Shares	Price	Value
Other	Class C Common Stock F1, F2, F5	89,222	--	--
Other	Class C Common Stock F1, F3, F5	67,990	--	--
Other	Class C Common Stock F1, F4, F5	43,961	--	--
holding	Class C Common Stock F5, F6	--	--	--
holding	Class C Common Stock F7	--	--	--
holding	Class C Common Stock F8	--	--	--
holding	Class C Common Stock F9	--	--	--
holding	Class C Common Stock F10	--	--	--

Holdings After Transaction: Class C Common Stock — 0 shares (Indirect, Held through SL SPV-2, L.P.); Class C Common Stock — 0 shares (Indirect, Held through Silver Lake Partners IV, L.P.); Class C Common Stock — 0 shares (Indirect, Held through Silver Lake Partners V DE (AIV), L.P.); Class C Common Stock — 1,227 shares (Indirect, Held through Silver Lake Group, L.L.C.); Class C Common Stock — 239,725 shares (Indirect, See footnote); Class C Common Stock — 1,394,128 shares (Direct)

Footnotes (10)

1. F1. SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P. and certain of their respective affiliates initiated in-kind distributions of Class C Common Stock, par value $0.01 per share ("Class C Common Stock") of Dell Technologies Inc. (the "Issuer") on July 10, 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. These securities are directly held by SL SPV-2, L.P. The general partner of SL SPV-2, L.P. is SLTA SPV-2, L.P. ("SLTA SPV") and the general partner of SLTA SPV is SLTA SPV-2 (GP), L.L.C. ("SLTA SPV GP").
3. F3. These securities are directly 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. ("SLTA IV") and the general partner of SLTA IV is SLTA IV (GP), L.L.C. ("SLTA IV GP").
4. F4. These securities are directly held by Silver Lake Partners V DE (AIV), L.P. The general partner of Silver Lake Partners V DE (AIV), L.P. is Silver Lake Technology Associates V, L.P. ("SLTA V") and the general partner of SLTA V is SLTA V (GP), L.L.C. ("SLTA V GP").
5. F5. Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA SPV GP, SLTA IV GP and SLTA V GP. Egon Durban, who serves as a director of the Issuer, also serves as a Co-CEO and Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer.
6. F6. Represents shares of Class C Common Stock held directly held by SLG. Shares held include shares of Class C Common Stock received in connection with the distributions described herein on July 10, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
7. F7. Represents shares of Class C Common Stock held by entities in which Mr. Egon Durban may be deemed to have an indirect pecuniary interest. Shares held include shares of Class C Common Stock received in connection with the distributions described herein on July 10, 2026. 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. 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 33,862, 65,130, 30,889 and 59,549 shares held by SLTA SPV-2, L.P., SLTA IV, SLTA V, and SLG, respectively, on behalf of such individuals, including shares distributed in the July 10, 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.
9. F9. Represents shares of Class C Common Stock held directly by Mr. Egon Durban immediately following the receipt of shares in connection with the distributions of shares of Class C Common Stock on July 10, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
10. F10. 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 July 10, 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.

Key Figures

Shares in restructuring transactions: 201,173 shares J-code transaction block 1: 43,961 shares J-code transaction block 2: 67,990 shares +5 more

8 metrics

Shares in restructuring transactions 201,173 shares Total J-code “other acquisition or disposition” shares on July 10, 2026

J-code transaction block 1 43,961 shares Non-derivative Class C Common Stock held through Silver Lake Partners V DE (AIV), L.P.

J-code transaction block 2 67,990 shares Non-derivative Class C Common Stock held through Silver Lake Partners IV, L.P.

J-code transaction block 3 89,222 shares Non-derivative Class C Common Stock held through SL SPV-2, L.P.

Shares held on behalf of individuals via SLTA SPV-2, L.P. 33,862 shares Held on behalf of certain individuals, including shares from July 10, 2026 distributions

Shares held on behalf of individuals via SLTA IV 65,130 shares Held on behalf of certain individuals, including shares from July 10, 2026 distributions

Shares held on behalf of individuals via SLTA V 30,889 shares Held on behalf of certain individuals, including shares from July 10, 2026 distributions

Shares held on behalf of individuals via SLG 59,549 shares Held on behalf of certain individuals, including shares from July 10, 2026 distributions

Key Terms

in-kind distributions, Rule 16a-13, indirect pecuniary interest, director by deputization

4 terms

in-kind distributions financial

"initiated in-kind distributions of Class C Common Stock, par value $0.01 per share"

Rule 16a-13 regulatory

"receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13"

indirect pecuniary interest financial

"held by entities in which Mr. Egon 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 did Silver Lake-affiliated entities report for Dell (DELL) on July 10, 2026?

They reported in-kind distributions of Dell Class C Common Stock on July 10, 2026, using J-code “other acquisition or disposition” for 201,173 shares, reflecting changes in how shares are held among Silver Lake-related entities.

How many Dell (DELL) shares were involved in the J-code restructuring transactions?

The J-code “other acquisition or disposition” entries covered 201,173 shares of Dell Class C Common Stock. These are summarized as restructuring transactions involving multiple Silver Lake funds and affiliates on July 10, 2026.

Were the Dell (DELL) share receipts by Silver Lake entities required to be reported as acquisitions?

The share receipts were stated to be exempt from reporting as acquisitions under Rule 16a-13 of the Exchange Act, because they arose from in-kind distributions of Dell Class C Common Stock among Silver Lake-related entities.

Which Silver Lake-related entities were identified in the Dell (DELL) in-kind distributions?

Entities named include SL SPV-2, L.P., Silver Lake Partners IV, L.P., and Silver Lake Partners V DE (AIV), L.P., as well as certain of their affiliates that initiated in-kind distributions of Dell Class C Common Stock.

How do Silver Lake’s roles at Dell (DELL) relate to these share movements?

The reporting persons and related entities may be deemed directors by deputization and more than 10% owners of Dell. The disclosed in-kind distributions adjust how Dell Class C shares are held within the Silver Lake complex, rather than indicating open-market trades.

Did individuals linked to Egon Durban receive Dell (DELL) shares in these distributions?

Footnotes state that certain shares are held by entities in which Egon Durban may have an indirect pecuniary interest, and that distributions included amounts held on behalf of employees and managing members, including Mr. Durban, under Rule 16a-13 exemptions.

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

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Accepted by SEC EDGAR 07/14/2026 - 04:35 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED 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^*

SLTA V (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)

2. Issuer Name and Ticker or Trading Symbol
Dell Technologies Inc. [ DELL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Class C Common Stock	07/10/2026		J(1)		89,222	D	(1)	0	I	Held through SL SPV-2, L.P.(2)(5)
Class C Common Stock	07/10/2026		J(1)		67,990	D	(1)	0	I	Held through Silver Lake Partners IV, L.P.(3)(5)
Class C Common Stock	07/10/2026		J(1)		43,961	D	(1)	0	I	Held through Silver Lake Partners V DE (AIV), L.P.(4)(5)
Class C Common Stock								1,227	I	Held through Silver Lake Group, L.L.C.(5)(6)
Class C Common Stock								665	I	See footnote(7)
Class C Common Stock								189,430	I	See footnote(8)
Class C Common Stock								1,394,128	D(9)
Class C Common Stock								49,630	I	See footnote(10)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

SLTA V (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

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Silver Lake Technology Associates V, 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

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Silver Lake Partners V DE (AIV), 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

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P. and certain of their respective affiliates initiated in-kind distributions of Class C Common Stock, par value $0.01 per share ("Class C Common Stock") of Dell Technologies Inc. (the "Issuer") on July 10, 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. These securities are directly held by SL SPV-2, L.P. The general partner of SL SPV-2, L.P. is SLTA SPV-2, L.P. ("SLTA SPV") and the general partner of SLTA SPV is SLTA SPV-2 (GP), L.L.C. ("SLTA SPV GP").

3. These securities are directly 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. ("SLTA IV") and the general partner of SLTA IV is SLTA IV (GP), L.L.C. ("SLTA IV GP").

4. These securities are directly held by Silver Lake Partners V DE (AIV), L.P. The general partner of Silver Lake Partners V DE (AIV), L.P. is Silver Lake Technology Associates V, L.P. ("SLTA V") and the general partner of SLTA V is SLTA V (GP), L.L.C. ("SLTA V GP").

5. Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA SPV GP, SLTA IV GP and SLTA V GP. Egon Durban, who serves as a director of the Issuer, also serves as a Co-CEO and Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer.

6. Represents shares of Class C Common Stock held directly held by SLG. Shares held include shares of Class C Common Stock received in connection with the distributions described herein on July 10, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.

7. Represents shares of Class C Common Stock held by entities in which Mr. Egon Durban may be deemed to have an indirect pecuniary interest. Shares held include shares of Class C Common Stock received in connection with the distributions described herein on July 10, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.

8. 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 33,862, 65,130, 30,889 and 59,549 shares held by SLTA SPV-2, L.P., SLTA IV, SLTA V, and SLG, respectively, on behalf of such individuals, including shares distributed in the July 10, 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.

9. Represents shares of Class C Common Stock held directly by Mr. Egon Durban immediately following the receipt of shares in connection with the distributions of shares of Class C Common Stock on July 10, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.

10. 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 July 10, 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.

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. Because 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 a separate Form 4.

	By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA V (GP), L.L.C.	07/14/2026
	By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA V (GP), L.L.C., general partner of Silver Lake Technology Associates V, L.P.	07/14/2026
	By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA V (GP), L.L.C., general partner of Silver Lake Technology Associates V, L.P., general partner of Silver Lake Partners V DE (AIV), LP	07/14/2026
	** Signature of Reporting Person	Date
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)