Silver Lake funds shift Dell Technologies (NYSE: DELL) Class C holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Dell Technologies Inc. insider entities affiliated with Silver Lake reported a series of non-market "J" code transactions in Class C Common Stock on March 25, 2026. These transactions reflect in-kind, pro rata distributions totaling 152,324, 112,991 and 72,261 shares among Silver Lake funds and related vehicles, rather than open-market buying or selling.
Footnotes explain that SPV-2, Silver Lake Partners IV and Silver Lake Partners V initiated distributions of Dell Class C shares to their own investors, employees and managing members, with receipt of shares exempt from reporting under Rule 16a-13. After these restructurings, one reporting person shows 1,284,190 Class C shares held directly, alongside several indirect holdings through Silver Lake Group and related entities.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
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 | 152,324 | $0.00 | -- |
| Other | Class C Common Stock | 112,991 | $0.00 | -- |
| Other | Class C Common Stock | 72,261 | $0.00 | -- |
| holding | Class C 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 C Common Stock — 0 shares (Indirect, Held through SL SPV-2, L.P.);
Class C Common Stock — 1,284,190 shares (Direct)
Footnotes (1)
- SL SPV-2, L.P. ("SPV-2"), Silver Lake Partners IV, L.P. ("SLP IV"), Silver Lake Partners V DE (AIV), L.P. ("SLP V") 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 March 25, 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. These securities are directly held by SPV-2. The general partner of SPV-2 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"). These securities are directly held by SLP IV. The general partner of SLP IV 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"). These securities are directly held by SLP V. The general partner of SLP V 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"). Reflects shares held directly by Silver Lake Group, L.L.C. ("SLG"), including shares of Class C Common Stock received in connection with the pro rata distributions described herein on March 25, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. 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. 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 of Class C Common Stock received in connection with the pro rata distributions described herein on March 25, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. In connection with the distributions described in footnote (1) above, pro rata distributions of certain shares were initiated to certain employees and managing members of SLG or its affiliates, including Mr. Durban. This amount reflects 17,906, 10,718 and 65,905 shares held by SLTA SPV, SLTA V and SLG, respectively, on behalf of such individuals, including shares distributed in the March 25, 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. Represents shares of Class C Common Stock held by Mr. Durban immediately following the receipt of shares in connection with the distributions of shares of Class C Common Stock on March 25, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. 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 of Class C Common Stock received in connection with the pro rata distributions described herein on March 25, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
FAQ
What insider activity did Silver Lake report for Dell (DELL) on March 25, 2026?
Silver Lake-affiliated entities reported "J" code transactions in Dell Class C stock on March 25, 2026. These were in-kind, pro rata distributions among Silver Lake funds and affiliates, not open-market purchases or sales, and were treated as exempt under Rule 16a-13.
What Dell (DELL) holdings are reported as directly held after these transactions?
After the reported activity, one reporting person shows 1,284,190 Dell Class C shares held directly. Additional positions are reported as indirect holdings through various Silver Lake entities, reflecting the post-distribution structure of ownership on March 25, 2026.
What does Rule 16a-13 mean in Dell (DELL) Silver Lake’s Form 4 filing?
Rule 16a-13 allows certain internal transfers to be exempt from short-swing profit rules. In this case, Silver Lake entities describe the receipt of Dell Class C shares from in-kind, pro rata distributions as exempt under this rule, indicating internal reallocations rather than market-driven trades.
How is Egon Durban connected to the Dell (DELL) insider entities in this Form 4?
Footnotes state Egon Durban is Co-CEO and Managing Member of Silver Lake Group, which manages several general partners of Silver Lake funds. Because he is also a Dell director, the filing notes each reporting person may be deemed a director of Dell by deputization.