Silver Lake funds sell 34,869 Dell Class C shares
Silver Lake Partners V DE (AIV), L.P. and affiliated Silver Lake entities, which are 10% owners and may be deemed directors of Dell Technologies, reported net open‑market sales of Dell Class C Common Stock.
Rhea-AI Filing Summary
Silver Lake Partners V DE (AIV), L.P. and affiliated Silver Lake entities, which are 10% owners and may be deemed directors of Dell Technologies, reported net open‑market sales of Dell Class C Common Stock. On July 9, 2026 they sold 34,869 Class C shares in multiple transactions, with the shares held indirectly through Silver Lake Partners V DE (AIV), L.P. In connection with these sales, certain reporting persons converted 48,990 shares of Class B Common Stock into an equal number of Class C shares. They continue to hold indirect Class B positions convertible into 34,324,339 Class C shares, alongside various direct and indirect Class C holdings.
Positive
- None.
Negative
- None.
Filing Explained
Silver Lake-affiliated holders reported completed Class C sales and a one-for-one Class B conversion, changing their disclosed holdings without an issuer financing.
A Form 4 reports an insider transaction within two business days. This July 13 Form 4 reports that Silver Lake-affiliated reporting persons, identified as a director and 10% owner, sold Dell Class C shares on
For existing common holders, the filing's structural effect is a reported transfer of Class C ownership by the reporting persons, alongside the disclosed Class B-to-Class C conversion. Under the supplied code definitions, M denotes an option or derivative exercise and S denotes an open-market sale; the filing describes the M transaction as a conversion and the S transactions as sales. The sales have no Rule 10b5-1 trading plan disclosed in this filing.
For example, one reported sale involved 4,887 Class C shares at a weighted-average price of
The filing states that affiliated entities submitted separate Forms 4 for additional transactions, so this document does not cover all related sales.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
20 txns
Insider
Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Associates V, L.P., SLTA V (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
34,869 shs ($15.81M)
Approx. gross sale proceeds
$15.81M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class B Common Stock F2, F1, F3, F4 | 48,990 | $0.00 | $0.00 |
| Exercise | Class C Common Stock F1, F2, F3, F4 | 48,990 | -- | -- |
| Sale | Class C Common Stock F10, F3, F4 | 320 | $448.17 | $143K |
| Sale | Class C Common Stock F11, F3, F4 | 1,255 | $449.22 | $564K |
| Sale | Class C Common Stock F12, F3, F4 | 2,810 | $450.17 | $1.26M |
| Sale | Class C Common Stock F13, F3, F4 | 4,887 | $451.08 | $2.20M |
| Sale | Class C Common Stock F14, F3, F4 | 6,176 | $452.07 | $2.79M |
| Sale | Class C Common Stock F15, F3, F4 | 4,219 | $453.06 | $1.91M |
| Sale | Class C Common Stock F16, F3, F4 | 3,397 | $454.10 | $1.54M |
| Sale | Class C Common Stock F17, F3, F4 | 3,672 | $455.06 | $1.67M |
| Sale | Class C Common Stock F18, F3, F4 | 3,131 | $456.06 | $1.43M |
| Sale | Class C Common Stock F19, F3, F4 | 1,377 | $457.08 | $629K |
| Sale | Class C Common Stock F20, F3, F4 | 1,292 | $457.97 | $592K |
| Sale | Class C Common Stock F21, F3, F4 | 1,544 | $459.11 | $709K |
| Sale | Class C Common Stock F22, F3, F4 | 789 | $460.02 | $363K |
| holding | Class B Common Stock F2, F24 | -- | -- | -- |
| holding | Class C Common Stock F5, F6, F7 | -- | -- | -- |
| holding | Class C Common Stock F8 | -- | -- | -- |
| holding | Class C Common Stock F9 | -- | -- | -- |
| holding | Class C Common Stock F23 | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 9,310,882 contracts (Indirect, Held through Silver Lake Partners V DE (AIV), L.P.);
Class C Common Stock — 43,961 shares (Indirect, Held through Silver Lake Partners V DE (AIV), L.P.);
Class B Common Stock — 34,324,339 contracts (Indirect, See footnote);
Class C Common Stock — 150,338 shares (Indirect, See footnotes);
Class C Common Stock — 1,374,245 shares (Direct);
Class C Common Stock — 206,449 shares (Indirect, See footnote)
Footnotes (24)
- 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 July 9, 2026.
- 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 July 9, 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.
- F3. These securities are directly held by Silver Lake Partners V DE (AIV), L.P. The general partner of Silver Lake Partners V DE (AIV), L.P. is Silver Lake Technology Associates V, L.P. and the general partner of Silver Lake Technology Associates V, L.P. is SLTA V (GP), L.L.C.
- F4. Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA V (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.
- F5. RESERVED
- F6. RESERVED
- F7. 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.
- F8. Represents shares of Class C Common Stock held directly by Mr. Durban.
- F9. Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.
- F10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $447.5921 to $448.5400 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.
- F11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $448.6027 to $449.5350 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.
- F12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $449.6000 to $450.5975 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.
- F13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $450.6000 to $451.5971 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.
- F14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $451.6061 to $452.5981 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.
- F15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $452.6000 to $453.5905 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.
- F16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $453.6000 to $454.5900 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.
- F17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $454.6000 to $455.5994 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.
- F18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $455.6010 to $456.5944 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.
- F19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $456.6000 to $457.5933 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.
- F20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $457.6065 to $458.5425 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.
- F21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $458.6278 to $459.6053 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.
- F22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $459.6595 to $460.4699 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.
- F23. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 89,222 shares of Class C Common Stock, Silver Lake Partners IV, L.P. directly holds 67,990 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.
- F24. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,756,126 shares of Class B Common Stock, Silver Lake Partners IV, L.P. directly holds 17,201,003 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 253,083 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 114,127 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Key Figures
Shares sold: 34,869 shares of Class C Common Stock
Example sale price: $460.0200 per share
Shares converted: 48,990 shares of Class B Common Stock
+2 more
5 metrics
Shares sold
34,869 shares of Class C Common Stock
Aggregate open-market sales by reporting Silver Lake entities on July 9, 2026
Example sale price
$460.0200 per share
Price reported for one tranche of Class C Common Stock sold on July 9, 2026
Shares converted
48,990 shares of Class B Common Stock
Converted into an equal number of Class C Common Stock shares on July 9, 2026
Convertible Class B position
34,324,339 underlying Class C shares
Indirect Class B Common Stock holdings convertible into Class C Common Stock
Post-transaction Class B holdings
9,310,882 shares of Class B Common Stock
Indirect Class B Common Stock held after the derivative transaction on July 9, 2026
Key Terms
Class B Common Stock, Class C Common Stock, weighted average price, beneficially owned, +1 more
5 terms
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.
Class C Common Stock financial
"shares of Class C Common Stock, par value $0.01 per share of Dell Technologies Inc."
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.
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.
beneficially owned financial
"Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
director by deputization regulatory
"Each of the Reporting Persons may be deemed a director by deputization of the Issuer."
FAQ
What insider activity did Silver Lake report in Dell (DELL) on July 9, 2026?
Silver Lake Partners V DE (AIV), L.P. and affiliated Silver Lake entities reported open‑market sales of 34,869 Dell Class C shares on July 9, 2026. In connection with these sales, certain reporting persons also converted 48,990 Class B shares into Class C under Dell’s dual‑class structure.
What Dell (DELL) stake does Silver Lake continue to hold after these transactions?
After the reported trades, Silver Lake entities continue to indirectly hold Class B Common Stock convertible into 34,324,339 Class C shares. The Form 4 also lists various direct and indirect Class C holdings, including positions held by Silver Lake entities and by Egon Durban personally and through a family trust.
Who are the reporting persons in Dell (DELL)’s July 2026 Form 4?
The reporting persons are Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Associates V, L.P., SLTA V (GP), L.L.C., Silver Lake Group, L.L.C., and Egon Durban. Footnotes explain that Silver Lake Group manages certain general partners and that each reporting person may be deemed a director by deputization.
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