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  4. [Form 4] Dell Technologies Inc. Insider Trading Activity

Silver Lake funds sell Dell (DELL) shares and convert Class B into Class C

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Dell Technologies Inc. insiders associated with Silver Lake reported a mix of open-market sales and share conversions involving the company’s Class C Common Stock. On June 10, 2026, Silver Lake Partners IV, L.P. and related funds sold a total of 71,640 shares of Class C Common Stock in multiple open-market transactions, at weighted average prices reported in ranges roughly between $370.98 and $390.38 per share.

The filing also shows the exercise and conversion of 156,177 shares of Class B Common Stock into an equal number of Class C shares in connection with these sales. After the transactions, Silver Lake-affiliated entities continue to hold a large indirect position, including 27,074,409 shares of Class B Common Stock that are convertible into an equal number of Class C shares. Director Egon Durban’s interest in these securities is described as indirect through Silver Lake entities and related investment vehicles.

Positive

  • None.

Negative

  • None.
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 71,640 shs ($27.26M)
Type Security Shares Price Value
Exercise Class B Common Stock 156,177 $0.00 --
Exercise Class C Common Stock 156,177 $0.00 --
Sale Class C Common Stock 3,261 $371.39 $1.21M
Sale Class C Common Stock 5,633 $372.50 $2.10M
Sale Class C Common Stock 2,927 $373.38 $1.09M
Sale Class C Common Stock 1,564 $374.26 $585K
Sale Class C Common Stock 3,622 $375.51 $1.36M
Sale Class C Common Stock 2,713 $376.56 $1.02M
Sale Class C Common Stock 2,764 $377.63 $1.04M
Sale Class C Common Stock 5,798 $378.81 $2.20M
Sale Class C Common Stock 4,258 $379.46 $1.62M
Sale Class C Common Stock 2,476 $380.50 $942K
Sale Class C Common Stock 5,259 $381.80 $2.01M
Sale Class C Common Stock 4,210 $382.82 $1.61M
Sale Class C Common Stock 6,429 $383.73 $2.47M
Sale Class C Common Stock 7,735 $384.71 $2.98M
Sale Class C Common Stock 6,459 $385.57 $2.49M
Sale Class C Common Stock 1,945 $386.65 $752K
Sale Class C Common Stock 259 $387.35 $100K
Sale Class C Common Stock 2,580 $388.61 $1.00M
Sale Class C Common Stock 1,748 $390.02 $682K
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 -- -- --
holding Class C Common Stock -- -- --
holding Class C Common Stock -- -- --
Holdings After Transaction: Class B Common Stock — 17,617,582 shares (Indirect, Held through Silver Lake Partners IV, L.P.); Class C Common Stock — 156,177 shares (Indirect, Held through Silver Lake Partners IV, L.P.); Class C Common Stock — 1,317,963 shares (Direct, null)
Footnotes (1)
  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 June 10, 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 June 10, 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. Reflects shares of Class C Common Stock held by SLG. These shares of Class C Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest. This amount reflects 24,563, 24,932, 114,663 and 56 shares held by SLTA SPV-2, 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 $370.9774 to $371.9640 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 $371.9900 to $372.9890 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 $372.9901 to $373.9740 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 $374.0051 to $374.9580 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 $375.0298 to $376.0138 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 $376.0441 to $377.0399 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 $377.0419 to $378.0300 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 $378.0700 to $379.0685 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 $379.0800 to $380.0500 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 $380.0955 to $381.0800 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 $381.1254 to $382.1001 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 $382.1400 to $383.1300 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 $383.2000 to $384.1900 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $384.2000 to $385.1900 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $385.2000 to $386.1900 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $386.2200 to $387.1700 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $387.3000 to $387.3800 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 $388.3100 to $389.0500 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 $389.3900 to $390.3800 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 49,369 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 29,548 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 17,161,930 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,536,376 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 259,212 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 116,891 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Shares sold 71,640 shares Class C Common Stock sold on June 10, 2026
Conversion shares 156,177 shares Class B converted into Class C on June 10, 2026
Sale price range (low) $370.9774/share Lowest weighted average range reported for Class C sales
Sale price range (high) $390.3800/share Highest weighted average range reported for Class C sales
Convertible Class B held 27,074,409 shares Class B Common Stock indirectly held, convertible 1:1 into Class C
Net shares sold 71,640 shares Net buy/sell shares in transaction summary
Exercise shares 156,177 shares Exercise/conversion of derivative security in transaction summary
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 ... is convertible into one share of Class C"
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.
derivative security financial
"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.
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.
indirect pecuniary interest financial
"held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest"
director by deputization regulatory
"Each of the Reporting Persons may be deemed a director by deputization of the Issuer."
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Form 4 Insider Transactions: What Each Field Means →
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 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)		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)
06/10/2026		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 Stock06/10/2026M(1)(2)156,177A(1)(2)156,177IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S3,261D$371.39(10)152,916IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S5,633D$372.5(11)147,283IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S2,927D$373.38(12)144,356IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S1,564D$374.26(13)142,792IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S3,622D$375.51(14)139,169IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S2,713D$376.56(15)136,456IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S2,764D$377.63(16)133,692IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S5,798D$378.81(17)127,895IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S4,258D$379.46(18)123,637IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S2,476D$380.5(19)121,161IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S5,259D$381.8(20)115,902IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S4,210D$382.82(21)111,691IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S6,429D$383.73(22)105,263IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S7,735D$384.71(23)97,528IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S6,459D$385.57(24)91,069IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S1,945D$386.65(25)89,124IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S259D$387.35(26)88,866IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S2,580D$388.61(27)86,286IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock06/10/2026S1,748D$390.02(28)84,538IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class C Common Stock9,359IHeld through Silver Lake Group, L.L.C.(4)(5)
Class C Common Stock4,845ISee footnote(6)
Class C Common Stock164,214ISee footnote(7)
Class C Common Stock1,317,963D(8)
Class C Common Stock47,234ISee footnotes(9)
Class C Common Stock78,917ISee footnote(29)
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)06/10/2026M(1)(2)156,177 (2) (2)Class C Common Stock156,177$017,617,582IHeld through Silver Lake Partners IV, L.P.(3)(4)
Class B Common Stock(2) (2) (2)Class C Common Stock27,074,40927,074,409ISee footnote(30)
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 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 June 10, 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 June 10, 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 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.
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 a Co-CEO and 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.
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.
7. This amount reflects 24,563, 24,932, 114,663 and 56 shares held by SLTA SPV-2, 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.
8. Represents shares of Class C Common Stock held directly by Mr. Durban.
9. Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.
10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $370.9774 to $371.9640 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 $371.9900 to $372.9890 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 $372.9901 to $373.9740 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 $374.0051 to $374.9580 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 $375.0298 to $376.0138 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 $376.0441 to $377.0399 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 $377.0419 to $378.0300 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 $378.0700 to $379.0685 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 $379.0800 to $380.0500 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 $380.0955 to $381.0800 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 $381.1254 to $382.1001 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 $382.1400 to $383.1300 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 $383.2000 to $384.1900 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.
23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $384.2000 to $385.1900 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.
24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $385.2000 to $386.1900 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.
25. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $386.2200 to $387.1700 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.
26. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $387.3000 to $387.3800 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 $388.3100 to $389.0500 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 $389.3900 to $390.3800 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. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 49,369 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 29,548 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.
30. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 17,161,930 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,536,376 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 259,212 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 116,891 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, 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.06/12/2026
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.06/12/2026
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.06/12/2026
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C.06/12/2026
By: /s/ Justin G. Hamill, Attorney-in-fact for Egon Durban06/12/2026
** 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

FAQ

What insider activity did Silver Lake report in Dell Technologies (DELL) shares?

Silver Lake-affiliated funds reported open-market sales of 71,640 Dell Class C shares and the conversion of 156,177 Class B shares into Class C on June 10, 2026. These actions reflect both disposals and acquisitions within their broader Dell ownership structure.

How many Dell Technologies Class C shares did Silver Lake sell in this Form 4?

Silver Lake entities sold 71,640 shares of Dell Technologies Class C Common Stock in multiple open-market transactions. The filing groups these trades into price ranges and reports weighted average prices for each range rather than individual trade prices.

At what prices were the Dell Technologies (DELL) shares sold by Silver Lake?

The reported Dell Class C share sales occurred at weighted average prices within several ranges, with lows around $370.98 and highs near $390.38 per share. Each range aggregates multiple trades, with detailed breakdowns available on request from the reporting persons.

What conversions between Dell Class B and Class C stock did Silver Lake report?

Silver Lake-related entities converted 156,177 shares of Dell Class B Common Stock into an equal number of Class C shares. The filing states Class B shares are convertible into Class C on a one-for-one basis at any time, with no expiration date on the conversion right.

What Dell Technologies stake does Silver Lake retain after these transactions?

After the reported sales and conversions, Silver Lake entities still hold significant Dell exposure, including 27,074,409 shares of Class B Common Stock. Each Class B share is convertible into one Class C share, so this block represents a large potential Class C position.

How is Egon Durban connected to the Dell Technologies insider transactions?

Egon Durban is a Dell director and Co-CEO and Managing Member of Silver Lake Group, L.L.C. The filing explains that various Silver Lake entities hold the Dell shares, and Durban may be deemed to have an indirect pecuniary interest through those investment vehicles and related structures.