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Dell Technologies: Silver Lake sells 1,618 shares

Silver Lake affiliates and director Egon Durban reported conversions and small Class C share sales in Dell on September 11, 2026 while retaining large indirect holdings.

Filing Impact
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Form Type
4

Rhea-AI Filing Summary

Dell Technologies Inc. (DELL) reported insider activity by Silver Lake-affiliated funds and Egon Durban on September 11, 2026. Silver Lake Technology Investors IV, L.P. indirectly converted 1,617 shares of Class B Common Stock into 1,617 shares of Class C Common Stock and then disposed of Class C shares.

On the same date, Silver Lake Technology Investors IV, L.P. indirectly sold 1,618 shares of Class C Common Stock in multiple transactions, with weighted-average sale prices in ranges from $547.11 to $567.71 per share. After these transactions, Silver Lake-affiliated entities continued to hold a large indirect position, including 41,954,897 Class B shares convertible into Class C, and Egon Durban directly held 1,403,750 Class C shares. No Rule 10b5-1 trading plan is reported.

Insider Silver Lake Technology Investors IV, L.P., Silver Lake Technology Associates IV, L.P., SLTA IV (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 1,618 shs ($904K)
Approx. gross sale proceeds $904K
Type Security Shares Price Value
Exercise Class B Common Stock F2, F1, F3, F4 1,617 $0.00 $0.00
Exercise Class C Common Stock F1, F2, F3, F4 1,617 -- --
Sale Class C Common Stock F10, F3, F4 56 $547.73 $31K
Sale Class C Common Stock F11, F3, F4 41 $548.47 $22K
Sale Class C Common Stock F12, F3, F4 13 $550.03 $7K
Sale Class C Common Stock F13, F3, F4 30 $551.38 $17K
Sale Class C Common Stock F14, F3, F4 73 $552.15 $40K
Sale Class C Common Stock F15, F3, F4 54 $553.09 $30K
Sale Class C Common Stock F16, F3, F4 9 $554.33 $5K
Sale Class C Common Stock F17, F3, F4 19 $555.54 $11K
Sale Class C Common Stock F18, F3, F4 60 $556.80 $33K
Sale Class C Common Stock F19, F3, F4 203 $557.77 $113K
Sale Class C Common Stock F20, F3, F4 181 $558.65 $101K
Sale Class C Common Stock F21, F3, F4 207 $559.62 $116K
Sale Class C Common Stock F22, F3, F4 229 $560.66 $128K
Sale Class C Common Stock F23, F3, F4 190 $561.75 $107K
Sale Class C Common Stock F24, F3, F4 88 $562.53 $50K
Sale Class C Common Stock F25, F3, F4 39 $563.44 $22K
Sale Class C Common Stock F26, F3, F4 57 $564.63 $32K
Sale Class C Common Stock F27, F3, F4 23 $565.63 $13K
Sale Class C Common Stock F28, F3, F4 15 $566.65 $8K
Sale Class C Common Stock F29, F3, F4 31 $567.45 $18K
holding Class B Common Stock F2, F31 -- -- --
holding Class C Common Stock F4, F5 -- -- --
holding Class C Common Stock F6 -- -- --
holding Class C Common Stock F7 -- -- --
holding Class C Common Stock F8 -- -- --
holding Class C Common Stock F9 -- -- --
holding Class C Common Stock F30 -- -- --
Holdings After Transaction: Class B Common Stock — 244,756 contracts (Indirect, Held through Silver Lake Technology Investors IV, L.P.); Class C Common Stock — 0 shares (Indirect, Held through Silver Lake Technology Investors IV, L.P.); Class B Common Stock — 41,954,897 contracts (Indirect, See footnote); Class C Common Stock — 3,215 shares (Indirect, Held through Silver Lake Group, L.L.C.); Class C Common Stock — 376,398 shares (Indirect, See footnote); Class C Common Stock — 1,403,750 shares (Direct)
Footnotes (31)
  1. F1. 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 September 11, 2026 and initiated in-kind distributions of shares of Class C Common Stock on September 11, 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. 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 11, 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 and distributions described in footnote (1) above.
  3. F3. These securities are held by Silver Lake Technology Investors IV, L.P. The general partner of Silver Lake Technology Investors IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C.
  4. F4. Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (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.
  5. F5. Reflects shares of Class C Common Stock held by SLG, including shares received in connection with the distribution of shares of Class C Common Stock described herein on September 11, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
  6. F6. 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 received in connection with the distributions of shares of Class C Common Stock on September 11, 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.
  7. F7. 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 41,375, 137,789, 35,426 and 24,766 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 11, 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.
  8. F8. Represents shares of Class C Common Stock held directly by Mr. Durban, including shares received by Mr. Durban in connection with the distribution of shares of Class C Common Stock on September 11, 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. Mr. Durban has filed a separate Form 4 reporting transactions in securities of the Issuer on September 11, 2026.
  9. F9. 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 11, 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.
  10. F10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $547.1100 to $548.0600 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.
  11. F11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $548.1500 to $548.9300 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.
  12. F12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $549.4400 to $550.3200 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.
  13. F13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $550.7700 to $551.7600 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.
  14. F14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $551.7700 to $552.7400 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. F15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $552.7700 to $553.7500 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. F16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $553.8800 to $554.7458 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. F17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $555.0825 to $556.0006 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. F18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $556.1900 to $557.1800 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.
  19. F19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $557.1900 to $558.1700 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.
  20. F20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $558.1900 to $559.1700 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.
  21. F21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $559.1900 to $560.1800 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.
  22. F22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $560.1900 to $561.1800 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.
  23. F23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $561.1900 to $562.1700 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.
  24. F24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $562.2000 to $563.1500 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.
  25. F25. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $563.2200 to $564.1900 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.
  26. F26. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $564.2200 to $565.2000 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.
  27. F27. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $565.2500 to $566.0000 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.
  28. F28. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $566.3300 to $567.0000 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.
  29. F29. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $567.0800 to $567.7100 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.
  30. F30. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 34,891 shares of Class C Common Stock, Silver Lake Partners IV, L.P. directly holds 30,811 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 18,045 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.
  31. F31. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,204,862 shares of Class B Common Stock, Silver Lake Partners IV, L.P. directly holds 16,635,103 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,004,560 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 110,372 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Class B converted to Class C 1,617 shares Class B Common Stock converted into Class C Common Stock on September 11, 2026
Class C shares sold 1,618 shares Total Class C Common Stock sold indirectly on September 11, 2026
Sale price range $547.11–$567.71 per share Weighted-average price ranges for multiple Class C sale transactions
Indirect Class B holdings 41,954,897 shares Class B Common Stock indirectly held, convertible into an equal number of Class C shares
Durban direct Class C holdings 1,403,750 shares Class C Common Stock held directly by Egon Durban after the distributions
Silver Lake Group Class C holdings 3,215 shares Class C Common Stock held by Silver Lake Group, L.L.C.
Silver Lake Investors IV Class B position 244,756 shares Class B Common Stock indirectly held through Silver Lake Technology Investors IV, L.P. after the 1,617-share conversion
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.
Rule 16a-13 regulatory
"The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13"
in-kind distributions financial
"sold certain shares ... and initiated in-kind distributions of shares of Class C Common Stock"
indirect pecuniary interest financial
"entities in which Mr. Durban may be deemed to have an indirect pecuniary interest"
convertible financial
"Each share of Class B Common Stock ... is convertible into one share of Class C Common Stock"
A convertible is a type of investment that starts as a loan or preferred stake (like a bond or preferred share) but can be exchanged for common shares of the company at a set price or under certain conditions. It matters to investors because it offers a mix of steady income and downside protection like a loan, plus the upside of stock ownership if the company does well—similar to holding a coupon that you can trade for a full ticket if the event becomes valuable.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions in DELL did Silver Lake report on September 11, 2026?
Silver Lake-affiliated entities converted 1,617 Class B shares into 1,617 Class C shares and sold 1,618 Class C shares in multiple transactions on September 11, 2026, all reported as indirect holdings through Silver Lake Technology Investors IV, L.P.

At what prices were Dell (DELL) shares sold by the Silver Lake entities?
The reported Class C share sales used weighted-average prices, with ranges for the trades spanning from $547.11 to $567.71 per share, according to the detailed footnotes describing each sale-price interval.

How many Dell (DELL) shares does Egon Durban hold after these transactions?
Egon Durban is reported as directly holding 1,403,750 shares of Class C Common Stock, with additional indirect pecuniary interests in Class C shares through various entities and a family trust, as described in the footnotes.

What Dell (DELL) stake do Silver Lake funds retain after the reported trades?
A Silver Lake-affiliated vehicle indirectly holds 41,954,897 shares of Class B Common Stock, each convertible into one Class C share, plus other direct Class C positions in various partnerships and entities noted in the footnotes.

Were the Dell (DELL) insider trades made under a Rule 10b5-1 trading plan?
The filing explicitly indicates that no Rule 10b5-1 plan is reported for these transactions, and the footnotes describe the trades and distributions without referencing any pre-arranged trading plan.

What are the in-kind distributions of Dell (DELL) shares mentioned in the filing?
Silver Lake Technology Investors V, SL SPV-2 and related funds initiated in-kind distributions of Class C shares on September 11, 2026, including to Silver Lake Group, L.L.C., employees, managing members and Egon Durban, with such receipts exempt under Rule 16a-13.

How are the Dell (DELL) insider holdings structured among Silver Lake entities?
Certain Class C and Class B holdings are indirectly held through Silver Lake Technology Investors IV, L.P., whose general partner is Silver Lake Technology Associates IV, L.P., controlled by SLTA IV (GP), L.L.C., with Silver Lake Group, L.L.C. as managing member and Egon Durban as CEO and Managing Member.

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

Form 4 Insider Transactions: What Each Field Means →
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Available on EDGAR Accepted by SEC EDGAR
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*
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)		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)
09/11/2026		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 Stock09/11/2026M(1)(2)1,617A(1)(2)1,617IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S56D$547.73(10)1,561IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S41D$548.47(11)1,521IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S13D$550.03(12)1,507IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S30D$551.38(13)1,477IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S73D$552.15(14)1,404IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S54D$553.09(15)1,351IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S9D$554.33(16)1,341IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S19D$555.54(17)1,322IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S60D$556.8(18)1,262IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S203D$557.77(19)1,059IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S181D$558.65(20)878IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S207D$559.62(21)672IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S229D$560.66(22)443IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S190D$561.75(23)253IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S88D$562.53(24)165IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S39D$563.44(25)126IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S57D$564.63(26)69IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S23D$565.63(27)46IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S15D$566.65(28)31IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/11/2026S31D$567.45(29)0IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock3,215IHeld through Silver Lake Group, L.L.C.(4)(5)
Class C Common Stock1,862ISee footnote(6)
Class C Common Stock239,356ISee footnote(7)
Class C Common Stock1,403,750D(8)
Class C Common Stock51,433ISee footnote(9)
Class C Common Stock83,747ISee footnote(30)
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
Class B Common Stock(2)09/11/2026M(1)(2)1,617 (2) (2)Class C Common Stock1,617$0244,756IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class B Common Stock(2) (2) (2)Class C Common Stock41,954,89741,954,897ISee footnote(31)
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*
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*
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*
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. 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 September 11, 2026 and initiated in-kind distributions of shares of Class C Common Stock on September 11, 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. 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 11, 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 and distributions described in footnote (1) above.
3. These securities are held by Silver Lake Technology Investors IV, L.P. The general partner of Silver Lake Technology Investors IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C.
4. Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (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.
5. Reflects shares of Class C Common Stock held by SLG, including shares received in connection with the distribution of shares of Class C Common Stock described herein on September 11, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
6. 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 received in connection with the distributions of shares of Class C Common Stock on September 11, 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.
7. 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 41,375, 137,789, 35,426 and 24,766 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 11, 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.
8. Represents shares of Class C Common Stock held directly by Mr. Durban, including shares received by Mr. Durban in connection with the distribution of shares of Class C Common Stock on September 11, 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. Mr. Durban has filed a separate Form 4 reporting transactions in securities of the Issuer on September 11, 2026.
9. 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 11, 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.
10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $547.1100 to $548.0600 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.
11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $548.1500 to $548.9300 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.
12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $549.4400 to $550.3200 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.
13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $550.7700 to $551.7600 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.
14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $551.7700 to $552.7400 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 $552.7700 to $553.7500 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 $553.8800 to $554.7458 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 $555.0825 to $556.0006 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 $556.1900 to $557.1800 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.
19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $557.1900 to $558.1700 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.
20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $558.1900 to $559.1700 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.
21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $559.1900 to $560.1800 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.
22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $560.1900 to $561.1800 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.
23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $561.1900 to $562.1700 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.
24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $562.2000 to $563.1500 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.
25. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $563.2200 to $564.1900 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.
26. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $564.2200 to $565.2000 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.
27. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $565.2500 to $566.0000 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.
28. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $566.3300 to $567.0000 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.
29. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $567.0800 to $567.7100 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.
30. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 34,891 shares of Class C Common Stock, Silver Lake Partners IV, L.P. directly holds 30,811 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 18,045 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.
31. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,204,862 shares of Class B Common Stock, Silver Lake Partners IV, L.P. directly holds 16,635,103 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,004,560 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 110,372 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
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. Due to certain reporting restrictions including that no more than 30 transactions can be listed on each Table of the Form 4 filing and 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 reporting additional transactions.
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C., gen. partner of Silver Lake Technology Associates IV, L.P., gen. partner of Silver Lake Technology Investors IV, L.P09/15/2026
By: /s/ Justin G. Hamill, 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.09/15/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C.09/15/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C.09/15/2026
By: /s/ Justin G. Hamill, Attorney-in-fact for Egon Durban09/15/2026
** 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)

Source: View Original Filing on SEC EDGAR

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