STOCK TITAN
  1. Home
  2. Sec-filings
  3. DELL
  4. [Form 4] Dell Technologies Inc. Insider Trading Activity

Form 4: Silver Lake Funds Sell Dell (DELL) Shares, Convert Class B to C

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

Rhea-AI Filing Summary

Dell Technologies (DELL) Form 4: Multiple Silver Lake-related reporting persons sold Class C common stock on September 15, 2025 and initiated pro rata in-kind distributions of Class C shares on September 17, 2025. The filing shows conversions of Class B into Class C shares in connection with those sales and distributions. Reported sales occurred at weighted-average prices in two ranges: about $126.275–$127.2711 and $127.2753–$128.25, with specific weighted-average prices noted as $126.63 and $127.70 for certain lots. The filing identifies Egon Durban as a director of the issuer and a managing member of Silver Lake Group entities; certain shares were distributed to employees and managing members and were exempt from reporting under Rule 16a-13.

Positive

  • Transactions disclosed with specificity including dates, price ranges, and the entities involved, improving transparency
  • Use of Rule 16a-13 exemption for pro rata in-kind distributions to employees and managing members is explicitly stated

Negative

  • Material sales reported (over 1,037,466 shares disposed as shown) by Silver Lake-related entities, reducing their direct holdings
  • Multiple entities reduced holdings to zero for certain SPVs after the reported distributions and sales, indicating significant ownership shifts

Insights

TL;DR: Silver Lake entities sold and distributed over one million DELL Class C shares across two dates at ~ $126.3–$128.25 per share.

The transactions indicate portfolio rebalancing by Silver Lake-affiliated funds: multiple SPVs sold sizable blocks on September 15, 2025 and then completed in-kind pro rata distributions on September 17, 2025. The filing discloses conversions of Class B to Class C stock tied to those actions and reports various indirect holdings through fund structures. Weighted-average sale prices are reported in two price bands, and certain post-distribution shares were claimed exempt from reporting under Rule 16a-13. For investors this is a disclosure of insider-related selling and internal reallocations rather than new operational information about Dell.

TL;DR: Director-linked funds executed sales and in-kind distributions; exemptions under Rule 16a-13 were invoked for received shares.

The filing transparently maps complex indirect ownership via multiple limited partnerships and general partners, clarifying that Egon Durban is both a director of Dell and a managing member of Silver Lake Group. The use of in-kind distributions and Rule 16a-13 exemptions for pro rata transfers to employees and managing members is documented. The filing includes signed certifications and disclaimers of beneficial ownership to the extent of pecuniary interest, which is standard in such multi-entity transactions.

Insider SLTA V (GP), L.L.C., Silver Lake Technology Associates V, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors V, L.P.
Role Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner
Sold 600,000 shs ($76.20M)
Type Security Shares Price Value
Other Class C Common Stock 98,251 $0.00 --
Other Class C Common Stock 72,809 $0.00 --
Other Class C Common Stock 45,958 $0.00 --
Exercise Class B Common Stock 313,738 $0.00 --
Exercise Class B Common Stock 322,069 $0.00 --
Exercise Class B Common Stock 174,335 $0.00 --
Exercise Class B Common Stock 4,739 $0.00 --
Exercise Class B Common Stock 2,137 $0.00 --
Exercise Class C Common Stock 313,738 $0.00 --
Exercise Class C Common Stock 322,069 $0.00 --
Exercise Class C Common Stock 174,335 $0.00 --
Exercise Class C Common Stock 4,739 $0.00 --
Exercise Class C Common Stock 2,137 $0.00 --
Sale Class C Common Stock 141,397 $126.63 $17.91M
Sale Class C Common Stock 163,558 $126.63 $20.71M
Sale Class C Common Stock 84,238 $126.63 $10.67M
Sale Class C Common Stock 3,110 $126.63 $394K
Sale Class C Common Stock 1,402 $126.63 $178K
Sale Class C Common Stock 74,090 $127.70 $9.46M
Sale Class C Common Stock 85,702 $127.70 $10.94M
Sale Class C Common Stock 44,139 $127.70 $5.64M
Sale Class C Common Stock 1,629 $127.70 $208K
Sale Class C Common Stock 735 $127.70 $94K
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 B Common Stock — 22,229,710 shares (Indirect, Held through SL SPV-2, L.P.); Class C Common Stock — 1,037,466 shares (Direct)
Footnotes (1)
  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 September 15, 2025 and initiated in-kind distributions of shares of Class C Common Stock on September 17, 2025. 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.. 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 September 15, 2025, 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 and distributions described in footnote (1) above. 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"). 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. 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. Reflects shares held by Silver Lake Group, L.L.C. ("SLG"). Shares held includes shares of Class C Common Stock received in connection with the pro rata distributions described herein on September 17, 2025. 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. 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 Egon Durban. This amount reflects 33,586, 18,855, 21 and 39,560 shares held by SLTA SPV-2, L.P., SLTA V, SLTA IV and SLG, respectively, on behalf of such individuals, including shares distributed in the September 17, 2025 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 September 17, 2025. 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 received in connection with the distributions of shares of Class C Common Stock on September 17, 2025. 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.. These shares of Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest including shares received in connection with the distributions of shares of Class C Common Stock on September 17, 2025. 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $126.275 to $127.2711 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 $127.2753 to $128.25 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.
Form 4 Insider Transactions: What Each Field Means →
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 CA 94025
(City) (State) (Zip)
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)
3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
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 09/15/2025 M(1)(2) 313,738 A (1)(2) 313,738 I Held through SL SPV-2, L.P.(3)(9)
Class C Common Stock 09/15/2025 M(1)(2) 322,069 A (1)(2) 322,069 I Held through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock 09/15/2025 M(1)(2) 174,335 A (1)(2) 174,335 I Held through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock 09/15/2025 M(1)(2) 4,739 A (1)(2) 4,739 I Held through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock 09/15/2025 M(1)(2) 2,137 A (1)(2) 2,137 I Held through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock 09/15/2025 S 141,397 D $126.63(14) 172,341 I Held through SL SPV-2, L.P.(3)(9)
Class C Common Stock 09/15/2025 S 163,558 D $126.63(14) 158,511 I Held through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock 09/15/2025 S 84,238 D $126.63(14) 90,097 I Held through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock 09/15/2025 S 3,110 D $126.63(14) 1,629 I Held through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock 09/15/2025 S 1,402 D $126.63(14) 735 I Held through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock 09/15/2025 S 74,090 D $127.7(15) 98,251 I Held through SL SPV-2, L.P.(3)(9)
Class C Common Stock 09/15/2025 S 85,702 D $127.7(15) 72,809 I Held through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock 09/15/2025 S 44,139 D $127.7(15) 45,958 I Held through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock 09/15/2025 S 1,629 D $127.7(15) 0 I Held through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock 09/15/2025 S 735 D $127.7(15) 0 I Held through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock 09/17/2025 J(1)(2) 98,251 D (1) 0 I Held through SL SPV-2, L.P.(3)(9)
Class C Common Stock 09/17/2025 J(1)(2) 72,809 D (1) 0 I Held through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock 09/17/2025 J(1)(2) 45,958 D (1) 0 I Held through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock 1,400 I Held through Silver Lake Group, L.L.C.(8)(9)
Class C Common Stock 92,022 I See footnote(10)
Class C Common Stock 1,037,466 D(11)
Class C Common Stock 42,515 I See footnote(12)
Class C Common Stock 1,202 I See 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Common Stock (2) 09/15/2025 M(1)(2) 313,738 (2) (2) Class C Common Stock 313,738 $0 22,229,710 I Held through SL SPV-2, L.P.(3)(9)
Class B Common Stock (2) 09/15/2025 M(1)(2) 322,069 (2) (2) Class C Common Stock 322,069 $0 22,819,910 I Held through Silver Lake Partners IV, L.P.(4)(9)
Class B Common Stock (2) 09/15/2025 M(1)(2) 174,335 (2) (2) Class C Common Stock 174,335 $0 12,352,388 I Held through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class B Common Stock (2) 09/15/2025 M(1)(2) 4,739 (2) (2) Class C Common Stock 4,739 $0 335,757 I Held through Silver Lake Technology Investors IV, L.P.(6)(9)
Class B Common Stock (2) 09/15/2025 M(1)(2) 2,137 (2) (2) Class C Common Stock 2,137 $0 151,406 I Held through Silver Lake Technology Investors V, L.P.(7)(9)
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 CA 94025
(City) (State) (Zip)
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 CA 94025
(City) (State) (Zip)
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 CA 94025
(City) (State) (Zip)
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 Investors V, L.P.
(Last) (First) (Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100
(Street)
MENLO PARK CA 94025
(City) (State) (Zip)
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. ("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 September 15, 2025 and initiated in-kind distributions of shares of Class C Common Stock on September 17, 2025. 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. 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 September 15, 2025, 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 and distributions 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"). Shares held includes shares of Class C Common Stock received in connection with the pro rata distributions described herein on September 17, 2025. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
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. 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 Egon Durban. This amount reflects 33,586, 18,855, 21 and 39,560 shares held by SLTA SPV-2, L.P., SLTA V, SLTA IV and SLG, respectively, on behalf of such individuals, including shares distributed in the September 17, 2025 distributions. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act..
11. 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 September 17, 2025. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
12. 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 September 17, 2025. 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..
13. These shares of Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest including shares received in connection with the distributions of shares of Class C Common Stock on September 17, 2025. 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.
14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $126.275 to $127.2711 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 $127.2753 to $128.25 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 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. 09/17/2025
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. 09/17/2025
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 09/17/2025
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., gen. partner of Silver Lake Technology Associates V, L.P., gen. partner of Silver Lake Technology Investors V, L.P. 09/17/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

When were the transactions in DELL shares reported?

Sales of Class C common stock were reported on September 15, 2025, and pro rata in-kind distributions of Class C shares were initiated on September 17, 2025.

How many DELL shares were sold and at what prices?

The filing shows aggregate disposals including 1,037,466 shares indicated as disposed in one line, with weighted-average sale prices reported in ranges of approximately $126.275–$127.2711 and $127.2753–$128.25; specific reported weighted averages include $126.63 and $127.70 for certain lots.

Did any entities' holdings go to zero after the transactions?

Yes; the filing shows certain entities held 0 shares after the reported dispositions for some SPVs (e.g., SL SPV-2, L.P., Silver Lake Partners IV, L.P., and others as indicated in the table).

What is the significance of Rule 16a-13 in this filing?

Rule 16a-13 is cited to explain that the receipt of Class C shares by certain recipients in the pro rata distributions was exempt from reporting, and the filing explicitly states those receipts were exempt under that rule.