STOCK TITAN

[Form 4] Dell Technologies Inc. Insider Trading Activity

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Dell Technologies Inc. director-affiliated Silver Lake entities reported open-market sales of 459,999 shares of Class C Common Stock on March 23, 2026. The shares were sold at weighted-average prices ranging from $160.00 to $164.6857 per share, across multiple transactions.

Footnotes state that SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P. and related funds executed these sales, and that certain reporting persons converted Class B shares into an equal number of Class C shares in connection with the transactions. Egon Durban, a Dell director and Co-CEO and Managing Member of Silver Lake Group, continues to beneficially own 1,252,345 Class C shares directly, along with additional indirect interests through various Silver Lake entities and a family trust.

Positive

  • None.

Negative

  • None.
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*
SLTA IV (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)
XDirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026
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 Stock03/23/2026S(1)(2)31,377D$160.6(14)286,127IHeld through SL SPV-2, L.P.(3)(9)
Class C Common Stock03/23/2026S(1)(2)36,367D$160.6(14)268,075IHeld through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock03/23/2026S(1)(2)18,627D$160.6(14)151,697IHeld through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock03/23/2026S(1)(2)695D$160.6(14)2,962IHeld through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock03/23/2026S(1)(2)313D$160.6(14)1,336IHeld through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock03/23/2026S(1)(2)5,936D$161.37(15)280,191IHeld through SL SPV-2, L.P.(3)(9)
Class C Common Stock03/23/2026S(1)(2)6,881D$161.37(15)261,194IHeld through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock03/23/2026S(1)(2)3,524D$161.37(15)148,172IHeld through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock03/23/2026S(1)(2)131D$161.37(15)2,831IHeld through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock03/23/2026S(1)(2)59D$161.37(15)1,277IHeld through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock03/23/2026S(1)(2)108,798D$162.61(16)171,393IHeld through SL SPV-2, L.P.(3)(9)
Class C Common Stock03/23/2026S(1)(2)126,102D$162.61(16)135,092IHeld through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock03/23/2026S(1)(2)64,591D$162.61(16)83,582IHeld through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock03/23/2026S(1)(2)2,409D$162.61(16)422IHeld through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock03/23/2026S(1)(2)1,086D$162.61(16)190IHeld through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock03/23/2026S(1)(2)17,888D$163.14(17)153,504IHeld through SL SPV-2, L.P.(3)(9)
Class C Common Stock03/23/2026S(1)(2)20,733D$163.14(17)114,359IHeld through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock03/23/2026S(1)(2)10,620D$163.14(17)72,962IHeld through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock03/23/2026S(1)(2)396D$163.14(17)26IHeld through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock03/23/2026S(1)(2)179D$163.14(17)12IHeld through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock03/23/2026S(1)(2)1,180D$164.18(18)152,324IHeld through SL SPV-2, L.P.(3)(9)
Class C Common Stock03/23/2026S(1)(2)1,368D$164.18(18)112,991IHeld through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock03/23/2026S(1)(2)701D$164.18(18)72,261IHeld through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock03/23/2026S(1)(2)26D$164.18(18)0IHeld through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock03/23/2026S(1)(2)12D$164.18(18)0IHeld through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock794IHeld through Silver Lake Group(8)(9)
Class C Common Stock692ISee footnote(10)
Class C Common Stock56,206ISee footnote(11)
Class C Common Stock1,252,345D(12)
Class C Common Stock51,899ISee footnote(13)
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
1. Name and Address of Reporting Person*
SLTA IV (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*
Silver Lake Technology Associates IV, 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*
Silver Lake Partners IV, 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*
Silver Lake Technology Investors IV, 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*
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*
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*
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. 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 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 March 20, 2026 and March 23, 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 March 20, 2026 and March 23, 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 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").
4. 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").
5. 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").
6. These securities are directly held by Silver Lake Technology Investors IV, L.P. The general partner of Silver Lake Technology Investors IV, L.P. is SLTA IV and the general partner of SLTA IV is SLTA IV GP.
7. These securities are directly held by Silver Lake Technology Investors V, L.P. The general partner of Silver Lake Technology Investors V, L.P. is SLTA V and the general partner of SLTA V is SLTA V GP.
8. Reflects shares held by Silver Lake Group, L.L.C. ("SLG").
9. 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.
10. These shares of Class C Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest.
11. This amount reflects 10,613, 6,350 and 39,243 shares held by SLTA SPV, SLTA V and SLG, respectively, on behalf of certain employees and managing members of SLG or its affiliates, including Mr. Durban.
12. Represents shares of Class C Common Stock held by Mr. Durban.
13. Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.
14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $160.00 to $160.9963 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 $161.00 to $161.9900 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.
16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $162.00 to $162.9900 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.
17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $163.00 to $163.9931 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 $164.0043 to $164.6857 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.
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. Because no more than 30 transactions can be listed on each Table of the Form 4 filing, the Reporting Persons have filed separate Forms 4 reporting additional transactions.
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C.03/24/2026
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C.03/24/2026
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C., general partner of Silver Lake Technology Associates IV, L.P.03/24/2026
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C., general partner of Silver Lake Technology Associates IV, L.P., general partner of Silver Lake Partners IV, L.P.03/24/2026
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C., GP of Silver Lake Technology Associates IV, L.P., GP of Silver Lake Technology Investors IV, L.P.03/24/2026
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA SPV-2 (GP), L.L.C.03/24/2026
By: /s/ Justin G. Hamill, Managing Director and 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.03/24/2026
By: /s/ Justin G. Hamill, Managing Director and 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.03/24/2026
By: /s/ Justin G. Hamill, Attorney-in-fact for Egon Durban03/24/2026
** 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)

FAQ

How many Dell (DELL) shares were sold in this Silver Lake Form 4?

Silver Lake-related entities sold 459,999 shares of Dell Class C Common Stock. The Form 4 shows 25 open-market sale transactions on March 23, 2026, by various Silver Lake funds associated with director Egon Durban and Silver Lake Group, L.L.C.

At what prices did Silver Lake entities sell Dell (DELL) shares?

The Dell shares were sold at weighted-average prices between $160.00 and $164.6857 per share. Footnotes explain these are averages for multiple trades in ranges from $160.00–$164.6857, and full per-trade detail is available on request from the reporting persons.

Which Silver Lake funds sold Dell (DELL) Class C Common Stock in this filing?

SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., and Silver Lake Technology Investors IV and V, L.P. reported sales. The securities are directly held by these funds, with their respective general partners detailed in the footnotes.

Did the Dell (DELL) insider transactions involve share class conversions?

Yes, certain reporting persons converted Class B shares into Class C shares. Footnotes state each Class B share is convertible one-for-one into Class C, and conversions on March 20 and 23, 2026 occurred in connection with the reported Class C sales.

Does Egon Durban still hold Dell (DELL) shares after these Silver Lake sales?

Yes, Egon Durban continues to hold Dell Class C shares. One line reflects 1,252,345 Class C shares held directly by Mr. Durban, and other footnotes describe additional indirect beneficial ownership through Silver Lake Group-related entities and a family trust.

How are the Dell (DELL) sales by Silver Lake attributed among entities?

The sold shares are directly held by specific Silver Lake funds, not by Egon Durban personally. Footnotes clarify that SPV-2, SLP IV, SLP V and Silver Lake Technology Investors funds hold the securities, with upstream general partners and Silver Lake Group managing roles.
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