Silver Lake entities tied to Dell (NYSE: DELL) report small stock sales and share conversion
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Silver Lake entities associated with Dell director Egon Durban reported small open‑market sales and a related share conversion in Dell Technologies Inc. stock. On June 12, 2026, Silver Lake Technology Investors IV, L.P. and affiliated funds sold a total of 764 shares of Class C Common Stock in 10 open‑market transactions at prices generally around $399–$408 per share.
The same day, certain reporting persons converted 766 shares of Class B Common Stock into an equal number of Class C shares, reflected as a derivative exercise at an exercise price of $0.0000. After these transactions, Silver Lake‑related entities continued to hold large positions, including 44,094,157 shares of Class B Common Stock convertible into the same number of Class C shares on an indirect basis.
Positive
- None.
Negative
- None.
Insights
Silver Lake executed a very small net sale alongside a routine share conversion, while retaining a large indirect Dell stake.
The Form 4 shows Silver Lake Technology Investors IV, L.P. and related funds selling 764 shares of Dell Class C Common Stock in 10 open‑market trades on June 12, 2026. Weighted‑average sale prices ranged from about $399 to just above $408, according to multiple pricing footnotes.
Concurrently, certain reporting persons converted 766 shares of Class B Common Stock into an equal number of Class C shares at an exercise price of $0.0000. A derivative summary indicates an indirect remaining position corresponding to 44,094,157 underlying Class C shares. Given this scale, the 764‑share net sale is proportionally minor and appears as routine portfolio activity rather than a thesis‑changing move.
Insider Trade Summary
Net Seller: 764 shares ($307,983)
Net Sell
19 txns
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
null | null | null | null | null
Sold
764 shs ($308K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class B Common Stock | 766 | $0.00 | -- |
| Exercise | Class C Common Stock | 766 | $0.00 | -- |
| Sale | Class C Common Stock | 110 | $399.50 | $44K |
| Sale | Class C Common Stock | 100 | $400.52 | $40K |
| Sale | Class C Common Stock | 126 | $401.41 | $51K |
| Sale | Class C Common Stock | 87 | $402.53 | $35K |
| Sale | Class C Common Stock | 39 | $403.35 | $16K |
| Sale | Class C Common Stock | 24 | $404.58 | $10K |
| Sale | Class C Common Stock | 96 | $405.57 | $39K |
| Sale | Class C Common Stock | 130 | $406.35 | $53K |
| Sale | Class C Common Stock | 47 | $407.38 | $19K |
| Sale | Class C Common Stock | 5 | $408.08 | $2K |
| 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 — 257,237 shares (Indirect, Held through Silver Lake Technology Investors IV, L.P.);
Class C Common Stock — 766 shares (Indirect, Held through Silver Lake Technology Investors IV, L.P.);
Class C Common Stock — 1,317,963 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 June 12, 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 12, 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 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. 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 $398.9913 to $399.9800 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 $400.0000 to $400.9946 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 $401.0000 to $401.9900 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 $402.0000 to $402.9999 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 $403.0000 to $403.9900 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 $404.0047 to $404.9892 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 $405.0000 to $405.9941 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 $406.9985 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 $407.0000 to $407.9900 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 $408.0000 to $408.2463 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 91,809 shares of Class C Common Stock, Silver Lake Partners IV, L.P. directly holds 69,916 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 50,381 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 17,031,140 shares of Class B Common Stock, Silver Lake Partners IV, L.P. directly holds 17,483,318 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,463,699 shares of Class B Common Stock, and Silver Lake Technology Investors V, L.P. directly holds 116,000 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Key Figures
Shares sold: 764 shares
Shares converted: 766 shares
Conversion exercise price: $0.0000 per share
+3 more
6 metrics
Shares sold
764 shares
Total Class C shares sold in 10 open-market trades on June 12, 2026
Shares converted
766 shares
Class B shares converted into an equal number of Class C shares on June 12, 2026
Conversion exercise price
$0.0000 per share
Exercise price for Class B into Class C conversion
Remaining Class B position
44,094,157 underlying shares
Class B Common Stock indirectly convertible into the same number of Class C shares
Sample sale price
$408.0800 per share
Price reported for one Class C open-market sale
Another sale price
$399.5000 per share
Price reported for one of the Class C sale transactions
Key Terms
Class C Common Stock, Class B Common Stock, convertible, derivative security, +2 more
6 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.
convertible financial
"is convertible into one share of Class C Common Stock at any time"
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.
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
"shares of Class C Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest"
FAQ
How large is Silver Lake’s remaining indirect Dell (DELL) position after these transactions?
A derivative summary shows an indirect position corresponding to 44,094,157 underlying shares of Dell Class C Common Stock through Class B Common Stock. This indicates Silver Lake‑related entities continue to hold a very large economic stake in Dell following the reported transactions.
Who is associated with the Silver Lake entities in this Dell (DELL) Form 4 filing?
The filing lists Silver Lake Technology Investors IV, L.P., related general partners and Silver Lake Group, L.L.C. Egon Durban serves as a director of Dell Technologies Inc. and as a Co‑CEO and Managing Member of Silver Lake Group, linking these entities to the issuer’s board.
What do the weighted‑average price footnotes mean in the Dell (DELL) Form 4?
Each sale line’s price reflects a weighted‑average of multiple trades within a disclosed range, such as $398.9913 to $399.9800 per share. The reporting persons state they will provide detailed trade‑by‑trade information, including exact share counts at each price, upon request.