Silver Lake trims Dell Technologies (DELL) stake via sales and conversions
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Silver Lake–affiliated funds reported a mix of sales and conversions in Dell Technologies Inc. stock. On July 6, 2026, entities including Silver Lake Partners IV, L.P. and related funds sold an aggregate 72,766 shares of Dell Class C Common Stock in open-market transactions at weighted-average prices generally between $405.0000 and $419.0600 per share.
The filings also show the conversion of 95,851 shares of Class B Common Stock into an equal number of Class C shares in connection with these sales. After the transactions, Silver Lake entities continue to hold large indirect positions, including 26,720,775 shares of Class B Common Stock that are convertible into Class C Common Stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 72,766 shares ($29,872,116)
Net Sell
20 txns
Insider
Silver Lake Partners 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
null | null | null | null | null
Sold
72,766 shs ($29.87M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class B Common Stock | 95,851 | $0.00 | -- |
| Exercise | Class C Common Stock | 95,851 | $0.00 | -- |
| Sale | Class C Common Stock | 4,100 | $405.36 | $1.66M |
| Sale | Class C Common Stock | 1,568 | $406.35 | $637K |
| Sale | Class C Common Stock | 5,678 | $407.59 | $2.31M |
| Sale | Class C Common Stock | 13,313 | $408.52 | $5.44M |
| Sale | Class C Common Stock | 10,530 | $409.49 | $4.31M |
| Sale | Class C Common Stock | 14,019 | $410.68 | $5.76M |
| Sale | Class C Common Stock | 10,989 | $411.40 | $4.52M |
| Sale | Class C Common Stock | 1,589 | $412.51 | $655K |
| Sale | Class C Common Stock | 44 | $413.30 | $18K |
| Sale | Class C Common Stock | 3,581 | $415.49 | $1.49M |
| Sale | Class C Common Stock | 4,033 | $416.34 | $1.68M |
| Sale | Class C Common Stock | 1,300 | $417.78 | $543K |
| Sale | Class C Common Stock | 2,022 | $418.49 | $846K |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 17,387,467 shares (Indirect, Held through Silver Lake Partners IV, L.P.);
Class C Common Stock — 95,851 shares (Indirect, Held through Silver Lake Partners IV, L.P.);
Class C Common Stock — 1,374,245 shares (Direct, null)
Footnotes (1)
- Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. and certain of their respective affiliates sold certain shares of Class C Common Stock, par value $0.01 per share ("Class C Common Stock") of Dell Technologies Inc. (the "Issuer") on July 6, 2026. Each share of Class B Common Stock, par value $0.01 per share of the Issuer (the "Class B Common Stock") is convertible into one share of Class C Common Stock at any time, at the election of the holder or automatically upon certain transfers, and has no expiration date. On July 6, 2026, certain of the Reporting Persons converted shares of Class B Common Stock into an equal number of shares of Class C Common Stock in connection with the sales described in footnote (1) above. These securities are directly held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners 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. 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 a Co-CEO and Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. RESERVED RESERVED This amount reflects 29,494, 11,109, 28,109, 81,500 and 126 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P., SLG and Silver Lake Secondary Holdings L.P., respectively, on behalf of certain employees and managing members of SLG or its affiliates. Represents shares of Class C Common Stock held directly by Mr. Durban. Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $405.0000 to $405.8100 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $406.0000 to $406.9600 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $407.0200 to $408.0100 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $408.0366 to $409.0288 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $409.0300 to $410.0262 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $410.0514 to $411.0409 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $411.0500 to $412.0400 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $412.0725 to $412.9500 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $413.2900 to $413.5186 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $415.0000 to $415.9954 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $416.0000 to $416.9900 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $417.0000 to $418.0000 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $418.1400 to $419.0600 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 30,167 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 14,901 shares of Class C Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 0 shares of Class C Common Stock, and Silver Lake Technology Investors V, L.P. directly holds 0 shares of Class C Common Stock, which securities and transactions are reported on separate Form 4 filings. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,937,769 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,411,815 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 255,827 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 115,364 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Key Figures
Class C shares sold: 72,766 shares
Converted Class B to Class C: 95,851 shares
Remaining Class B position: 26,720,775 shares
+4 more
7 metrics
Class C shares sold
72,766 shares
Aggregate Dell Class C Common Stock sold on July 6, 2026
Converted Class B to Class C
95,851 shares
Class B Common Stock converted into Class C on July 6, 2026
Remaining Class B position
26,720,775 shares
Class B Common Stock indirectly held, convertible into Class C
Sale price range (low)
$405.0000/share
Lowest weighted-average transaction range reported in footnotes
Sale price range (high)
$419.0600/share
Highest weighted-average transaction range reported in footnotes
Post-sale indirect C holding example
95,851 shares
Class C Common Stock held through Silver Lake Partners IV, L.P. after exercise
Post-transaction B holding example
17,387,467 shares
Class B Common Stock held by a Silver Lake entity after conversion-related exercise
Key Terms
Class C Common Stock, Class B Common Stock, weighted average price, derivative security, +1 more
5 terms
Class C Common Stock financial
"sold certain shares of Class C Common Stock, par value $0.01 per share"
A class C common stock is a type of company share that usually represents ownership but often carries limited or no voting power compared with other share classes. For investors, that matters because it can affect influence over company decisions and sometimes the stock’s price or dividend priority — think of it as owning a ticket to the same event but in a section with less say in how the event is run.
Class B Common Stock financial
"Each share of Class B Common Stock, par value $0.01 per share"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
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.
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
director by deputization financial
"Each of the Reporting Persons may be deemed a director by deputization of the Issuer."
FAQ
What conversions between Dell (DELL) Class B and Class C stock were reported?
Certain Silver Lake reporting persons converted 95,851 shares of Dell Class B Common Stock into 95,851 shares of Class C Common Stock on July 6, 2026, in connection with the Class C share sales described in the filing’s footnotes.