Dell director in Silver Lake fund transfer of 115K shares

Silver Lake–related entities reallocated Dell Technologies Class C shares through in-kind distributions, leaving director Egon Durban with over 1.4 million shares held directly.

Rhea-AI Filing Summary

Dell Technologies Inc. (DELL) insiders associated with Silver Lake reported an internal restructuring transaction involving Class C Common Stock on September 18, 2026. An entity affiliated with Silver Lake disposed of 114,714 shares of Class C Common Stock held indirectly through SL SPV-2, L.P. in connection with in-kind distributions among Silver Lake funds and affiliates, treated as an "other acquisition or disposition" transaction.

Following these distributions, Egon Durban, a director of Dell Technologies, is reported as holding 1,407,086 shares of Class C Common Stock directly, with additional shares beneficially owned indirectly through a family trust and certain Silver Lake-related entities. The filing states that the deemed or actual receipt of shares in these distributions was exempt from reporting under Rule 16a-13 of the Exchange Act, and no Rule 10b5-1 trading plan is indicated.

Insider Trade Summary

Other: 114,714 shares

Other 4 txns

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

Type	Security	Shares	Price	Value
Other	Class C Common Stock F1, F2, F3, F4, F5	114,714	--	--
holding	Class C Common Stock F6	--	--	--
holding	Class C Common Stock F7	--	--	--
holding	Class C Common Stock F8	--	--	--

Holdings After Transaction: Class C Common Stock — 0 shares (Indirect, Held through SL SPV-2, L.P.); Class C Common Stock — 330,159 shares (Indirect, See footnote); Class C Common Stock — 1,407,086 shares (Direct)

Footnotes (8)

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 shares of Class C Common Stock, par value $0.01 per share ("Class C Common Stock") of Dell Technologies Inc. (the "Issuer") on September 18, 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 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.
3. F3. 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. SLG has filed a separate Form 4 reporting transactions in securities of the Issuer occurring on September 21, 2026.
4. F4. RESERVED
5. F5. RESERVED
6. F6. 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 47,347, 148,194, 39,034 and 43,435 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 18, 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.
7. F7. Reflects shares of Class C Common Stock held directly by Mr. Durban, including shares received in connection with the distributions of shares of Class C Common Stock on September 18, 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.
8. F8. Reflects 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 18, 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 disposed in restructuring: 114,714 shares Direct holdings of Egon Durban: 1,407,086 shares Shares held by SLTA SPV-2, L.P. for individuals: 47,347 shares +3 more

6 metrics

Shares disposed in restructuring 114,714 shares Class C Common Stock indirectly held through SL SPV-2, L.P., transaction dated September 18, 2026

Direct holdings of Egon Durban 1,407,086 shares Class C Common Stock held directly after September 18, 2026 distributions

Shares held by SLTA SPV-2, L.P. for individuals 47,347 shares Held on behalf of certain employees and managing members, including Egon Durban

Shares held by Silver Lake Technology Associates IV, L.P. 148,194 shares Held on behalf of certain employees and managing members, including Egon Durban

Shares held by Silver Lake Technology Associates V, L.P. 39,034 shares Held on behalf of certain employees and managing members, including Egon Durban

Shares held by Silver Lake Group, L.L.C. 43,435 shares Held on behalf of certain employees and managing members, including Egon Durban

Key Terms

in-kind distributions, Rule 16a-13, beneficial ownership, director by deputization

4 terms

in-kind distributions financial

"initiated in-kind distributions of shares of Class C Common Stock"

Rule 16a-13 regulatory

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

beneficial ownership financial

"disclaims beneficial ownership of these securities, except to the extent of such Reporting Person's pecuniary interest"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

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 transaction did Dell Technologies (DELL) report on September 18, 2026?

Dell Technologies reported that a Silver Lake–affiliated entity disposed of 114,714 shares of Class C Common Stock held indirectly through SL SPV-2, L.P. This was part of in-kind distributions of Dell shares among Silver Lake funds and affiliates and classified as an "other" acquisition or disposition.

How many Dell (DELL) shares does Egon Durban hold after the reported transactions?

After the September 18, 2026 distributions, Egon Durban is reported as holding 1,407,086 shares of Dell Class C Common Stock directly. He also beneficially owns additional shares indirectly through a family trust and certain Silver Lake–related entities, as described in the footnotes.

Were the Dell (DELL) insider transactions related to a Rule 10b5-1 trading plan?

No. The filing indicates the Rule 10b5-1 checkbox is not marked, and there is no trading plan referenced. The distributions and deemed receipts of Dell Class C Common Stock are instead described as in-kind distributions exempt under Rule 16a-13 of the Exchange Act.

What is the nature of the 114,714 Dell (DELL) shares disposed of by SL SPV-2, L.P.?

The 114,714 shares of Dell Class C Common Stock were held indirectly through SL SPV-2, L.P. and are reported as disposed of in connection with in-kind distributions initiated by SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P. and certain affiliates.

Which Silver Lake entities hold Dell (DELL) shares on behalf of individuals including Egon Durban?

A footnote states that 47,347, 148,194, 39,034 and 43,435 Dell Class C shares are held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P. and Silver Lake Group, L.L.C., respectively, on behalf of certain employees and managing members, including Egon Durban.

Were the Dell (DELL) share distributions to Egon Durban reportable transactions?

The filing states that the deemed or actual receipt of Dell Class C shares by Egon Durban, directly and through a family trust, in the September 18, 2026 distributions was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.

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

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Available on EDGAR 09/22/2026 - 04:30 PM Accepted by SEC EDGAR 09/22/2026 - 04:30 PM 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^*

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2026

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	09/18/2026		J(1)		114,714	D	(1)	0	I	Held through SL SPV-2, L.P.(2)(3)(4)(5)
Class C Common Stock								278,010	I	See footnote(6)
Class C Common Stock								1,407,086	D(7)
Class C Common Stock								52,149	I	See footnote(8)

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^*

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

X	Director	X	10% 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

X	Director	X	10% 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

X	Director	X	10% 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

X	Director	X	10% 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

X	Director		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 shares of Class C Common Stock, par value $0.01 per share ("Class C Common Stock") of Dell Technologies Inc. (the "Issuer") on September 18, 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 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.

3. 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. SLG has filed a separate Form 4 reporting transactions in securities of the Issuer occurring on September 21, 2026.

4. RESERVED

5. RESERVED

6. 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 47,347, 148,194, 39,034 and 43,435 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 18, 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.

7. Reflects shares of Class C Common Stock held directly by Mr. Durban, including shares received in connection with the distributions of shares of Class C Common Stock on September 18, 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.

8. Reflects 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 18, 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 separate Forms 4.

	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.	09/22/2026
	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.	09/22/2026
	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.	09/22/2026
	By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C.	09/22/2026
	By: /s/ Justin G. Hamill, Attorney-in-fact for Egon Durban	09/22/2026
	** 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)