Silver Lake (DELL) sells 63K Class C shares, keeps large Class B stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Silver Lake-affiliated entities reported a mix of sales and conversions of Dell Technologies Inc. Class C and Class B shares. On July 6, 2026, SL SPV-2, L.P. and related funds sold an aggregate of 63,204 shares of Class C Common Stock in a series of open-market transactions at weighted average prices ranging from $405.00 to $419.06 per share, as described in multiple footnotes.
In connection with these sales, certain reporting persons converted shares of Class B Common Stock, which is convertible into Class C on a one-for-one basis with no expiration date, into 93,371 shares of Class C Common Stock. After these transactions, Silver Lake entities continue to hold large positions, including 27,170,473 shares of Class B Common Stock indirectly, which are convertible into the same number of Class C shares, alongside smaller direct and indirect Class C holdings.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 63,204 shares ($25,946,693)
Net Sell
20 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
Sold
63,204 shs ($25.95M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class B Common Stock | 93,371 | $0.00 | -- |
| Exercise | Class C Common Stock | 93,371 | $0.00 | -- |
| Sale | Class C Common Stock | 3,561 | $405.36 | $1.44M |
| Sale | Class C Common Stock | 1,362 | $406.35 | $553K |
| Sale | Class C Common Stock | 4,932 | $407.59 | $2.01M |
| Sale | Class C Common Stock | 11,564 | $408.52 | $4.72M |
| Sale | Class C Common Stock | 9,146 | $409.49 | $3.75M |
| Sale | Class C Common Stock | 12,177 | $410.68 | $5.00M |
| Sale | Class C Common Stock | 9,545 | $411.40 | $3.93M |
| Sale | Class C Common Stock | 1,380 | $412.51 | $569K |
| Sale | Class C Common Stock | 38 | $413.30 | $16K |
| Sale | Class C Common Stock | 3,111 | $415.49 | $1.29M |
| Sale | Class C Common Stock | 3,503 | $416.34 | $1.46M |
| Sale | Class C Common Stock | 1,129 | $417.78 | $472K |
| Sale | Class C Common Stock | 1,756 | $418.49 | $735K |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 16,937,769 shares (Indirect, Held through SL SPV-2, L.P.);
Class C Common Stock — 93,371 shares (Indirect, Held through SL SPV-2, L.P.);
Class C Common Stock — 1,374,245 shares (Direct)
Footnotes (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 July 6, 2026. 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 July 6, 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. 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. and the general partner of SLTA SPV-2, L.P. is SLTA SPV-2 (GP), L.L.C. 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 a Co-CEO and Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. RESERVED RESERVED This amount reflects 29,494, 11,109, 28,109, 81,500 and 126 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P., SLG and Silver Lake Secondary Holdings L.P., respectively, on behalf of certain employees and managing members of SLG or its affiliates. Represents shares of Class C Common Stock held directly by Mr. Durban. Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $405.0000 to $405.8100 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $406.0000 to $406.9600 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $407.0200 to $408.0100 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $408.0366 to $409.0288 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $409.0300 to $410.0262 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $410.0514 to $411.0409 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $411.0500 to $412.0400 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $412.0725 to $412.9500 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $413.2900 to $413.5186 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $415.0000 to $415.9954 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $416.0000 to $416.9900 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $417.0000 to $418.0000 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $418.1400 to $419.0600 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. Following the transactions described in footnote (1), Silver Lake Partners IV, L.P. directly holds 23,084 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 14,901 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. Following the transactions described in footnote (1), Silver Lake Partners IV, L.P. directly holds 17,387,467 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,411,815 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 255,827 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 115,364 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Key Figures
Class C shares sold: 63,204 shares
Shares converted: 93,371 shares
Remaining Class B position: 27,170,473 shares
+2 more
5 metrics
Class C shares sold
63,204 shares
Open-market sales on July 6, 2026 by Silver Lake affiliates
Shares converted
93,371 shares
Class B converted into Class C in connection with sales
Remaining Class B position
27,170,473 shares
Indirect Class B holdings convertible into Class C
Example sale price
$411.40 per share
One tranche of Class C sales on July 6, 2026
Post-sale indirect Class C holding
30,167 shares
One reported indirect Class C balance after sales
Key Terms
Class C Common Stock, Class B Common Stock, derivative security, weighted average price, +1 more
5 terms
Class C Common Stock financial
"sold certain shares of Class C Common Stock, par value $0.01 per share"
A class C common stock is a type of company share that usually represents ownership but often carries limited or no voting power compared with other share classes. For investors, that matters because it can affect influence over company decisions and sometimes the stock’s price or dividend priority — think of it as owning a ticket to the same event but in a section with less say in how the event is run.
Class B Common Stock financial
"Each share of Class B Common Stock is convertible into one share of Class C"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
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.
director by deputization financial
"Each of the Reporting Persons may be deemed a director by deputization of the Issuer."
FAQ
What Dell (DELL) Class B holdings remain after Silver Lake’s transactions?
After the reported transactions, Silver Lake-affiliated entities indirectly hold 27,170,473 shares of Dell Class B Common Stock. Each Class B share is convertible into one Class C share, so this position represents a substantial potential Class C stake if converted.
Who is the individual linked to Silver Lake in this Dell (DELL) filing?
The filing notes that Egon Durban serves as a director of Dell Technologies Inc. and as Co-CEO and Managing Member of Silver Lake Group, L.L.C.. The entities may be deemed directors of Dell by deputization through these relationships.