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

Dell investor Silver Lake sells 1,119 shares

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

Rhea-AI Filing Summary

Dell Technologies Inc. reporting persons affiliated with Silver Lake, including entities for which Egon Durban serves as a managing member, reported on September 8, 2026 the conversion of 1,119 shares of Class B Common Stock into 1,119 shares of Class C Common Stock and the sale of 1,119 Class C shares in multiple transactions at weighted-average prices within disclosed ranges. The transactions are reported as indirect holdings through Silver Lake Technology Investors IV, L.P., and the filers disclaim beneficial ownership beyond any pecuniary interest.

Positive

  • None.

Negative

  • None.
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 1,119 shs ($590K)
Approx. gross sale proceeds $590K
Type Security Shares Price Value
Exercise Class B Common Stock F2, F1, F3, F4 1,119 $0.00 $0.00
Exercise Class C Common Stock F1, F2, F3, F4 1,119 -- --
Sale Class C Common Stock F10, F3, F4 16 $516.27 $8K
Sale Class C Common Stock F11, F3, F4 60 $517.42 $31K
Sale Class C Common Stock F12, F3, F4 52 $518.36 $27K
Sale Class C Common Stock F13, F3, F4 32 $519.31 $17K
Sale Class C Common Stock F14, F3, F4 16 $520.47 $8K
Sale Class C Common Stock F15, F3, F4 50 $521.71 $26K
Sale Class C Common Stock F16, F3, F4 33 $522.65 $17K
Sale Class C Common Stock F17, F3, F4 51 $523.81 $27K
Sale Class C Common Stock F18, F3, F4 60 $524.63 $31K
Sale Class C Common Stock F19, F3, F4 81 $525.75 $43K
Sale Class C Common Stock F20, F3, F4 65 $526.68 $34K
Sale Class C Common Stock F21, F3, F4 102 $527.70 $54K
Sale Class C Common Stock F22, F3, F4 68 $528.68 $36K
Sale Class C Common Stock F23, F3, F4 121 $529.83 $64K
Sale Class C Common Stock F24, F3, F4 51 $530.66 $27K
Sale Class C Common Stock F25, F3, F4 87 $531.92 $46K
Sale Class C Common Stock F26, F3, F4 42 $532.85 $22K
Sale Class C Common Stock F27, F3, F4 38 $533.85 $20K
Sale Class C Common Stock F28, F3, F4 38 $534.94 $20K
Sale Class C Common Stock F29, F3, F4 31 $535.73 $17K
Sale Class C Common Stock F30, F3, F4 25 $536.40 $13K
holding Class B Common Stock F2, F32 -- -- --
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 F31 -- -- --
Holdings After Transaction: Class B Common Stock — 247,451 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 — 42,416,751 contracts (Indirect, See footnote); Class C Common Stock — 2,562 shares (Indirect, Held through Silver Lake Group, L.L.C.); Class C Common Stock — 325,116 shares (Indirect, See footnote); Class C Common Stock — 1,398,935 shares (Direct)
Footnotes (32)
  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 8, 2026 and initiated in-kind distributions of shares of Class C Common Stock on September 8, 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 8, 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 8, 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 8, 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 38,913, 123,469, 33,939 and 18,311 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 8, 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 8, 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 8, 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 8, 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 $515.8700 to $516.6300 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 $516.9351 to $517.9300 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 $517.9400 to $518.9300 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.
  13. F13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $518.9400 to $519.8700 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 $519.9900 to $520.9600 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.
  15. F15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $521.1960 to $522.1952 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 $522.1979 to $523.1700 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.
  17. F17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $523.2000 to $524.1998 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 $524.2092 to $525.1921 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 $525.2148 to $526.2100 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 $526.2200 to $527.2100 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 $527.2200 to $528.2100 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 $528.2300 to $529.2000 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.
  23. F23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $529.2800 to $530.2600 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 $530.3000 to $531.2700 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 $531.4200 to $532.4000 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 $532.4200 to $533.3900 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 $533.4900 to $534.4800 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 $534.4900 to $535.4100 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 $535.5000 to $536.0000 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.
  30. F30. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.0400 to $537.0000 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.
  31. F31. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 24,134 shares of Class C Common Stock, Silver Lake Partners IV, L.P. directly holds 21,317 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 12,470 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.
  32. F32. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,383,250 shares of Class B Common Stock, Silver Lake Partners IV, L.P. directly holds 16,818,228 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,103,686 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 111,587 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Class B shares converted 1,119 shares Class B Common Stock converted into Class C on September 8, 2026
Class C shares sold 1,119 shares Total Class C Common Stock sold in multiple transactions on September 8, 2026
Sale price ranges $515.87–$537.00 per share Weighted-average price ranges for the reported Class C share sales
Indirect Class B position 42,416,751 shares Class B Common Stock indirectly held and convertible into an equal number of Class C shares
Direct Class C holdings of Egon Durban 1,398,935 shares Class C Common Stock held directly, including shares received in September 8, 2026 distribution
Indirect Class C holdings via Silver Lake Group, L.L.C. 2,562 shares Class C Common Stock held through Silver Lake Group, L.L.C.
Rule 16a-13 regulatory
"The receipt of shares of Class C Common Stock ... was exempt from reporting pursuant to Rule 16a-13"
weighted average price financial
"The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions"
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.
director by deputization regulatory
"Each of the Reporting Persons may be deemed a director by deputization of the Issuer"
pecuniary interest financial
"each Reporting Person disclaims beneficial ownership of these securities, except to the extent of such Reporting Person's pecuniary interest"
in-kind distributions financial
"sold certain shares ... and initiated in-kind distributions of shares of Class C Common Stock"

FAQ

What insider transactions in DELL stock did Silver Lake entities report on September 8, 2026?
They reported converting 1,119 Class B shares into 1,119 Class C shares of Dell Technologies Inc. and then selling 1,119 Class C shares in multiple open-market or private transactions on September 8, 2026.

At what prices were the DELL Class C shares sold in this Form 4?
The 1,119 Class C shares were sold at weighted-average prices, with trades occurring in ranges from $515.87 to $537.00 per share, as detailed across numerous footnotes describing the specific price intervals.

Were the Dell (DELL) transactions direct or indirect for the reporting persons?
The reported conversions and sales involved indirect ownership, with securities held through Silver Lake Technology Investors IV, L.P. and related entities. The reporting persons disclaim beneficial ownership except to the extent of any pecuniary interest.

How many Dell (DELL) Class B shares linked to Class C stock remain held by Silver Lake affiliates?
A derivative position shows entities associated with the reporting persons indirectly holding 42,416,751 Class B shares, each convertible into one Class C share, with no expiration date, following the September 8, 2026 transactions.

What Dell (DELL) holdings are reported directly for Egon Durban in this filing?
One holding entry reports 1,398,935 Class C shares held directly by Egon Durban, including shares received in a September 8, 2026 distribution that was exempt from reporting as an acquisition under Rule 16a-13 of the Exchange Act.

Was a Rule 10b5-1 trading plan used for these DELL transactions?
No. The filing’s Rule 10b5-1 checkbox is not marked as pursuant to a plan, and the footnotes describe sales, conversions, and in-kind distributions but do not state that they occurred under a Rule 10b5-1 trading plan.

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

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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)
09/08/2026		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 Stock09/08/2026M(1)(2)1,119A(1)(2)1,119IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S16D$516.27(10)1,103IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S60D$517.42(11)1,044IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S52D$518.36(12)992IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S32D$519.31(13)960IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S16D$520.47(14)943IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S50D$521.71(15)893IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S33D$522.65(16)860IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S51D$523.81(17)809IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S60D$524.63(18)749IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S81D$525.75(19)668IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S65D$526.68(20)603IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S102D$527.7(21)501IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S68D$528.68(22)433IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S121D$529.83(23)312IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S51D$530.66(24)261IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S87D$531.92(25)175IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S42D$532.85(26)133IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S38D$533.85(27)95IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S38D$534.94(28)57IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S31D$535.73(29)25IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/08/2026S25D$536.4(30)0IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock2,562IHeld through Silver Lake Group, L.L.C.(4)(5)
Class C Common Stock1,390ISee footnote(6)
Class C Common Stock214,632ISee footnote(7)
Class C Common Stock1,398,935D(8)
Class C Common Stock51,173ISee footnote(9)
Class C Common Stock57,921ISee footnote(31)
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)09/08/2026M(1)(2)1,119 (2) (2)Class C Common Stock1,119$0247,451IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class B Common Stock(2) (2) (2)Class C Common Stock42,416,75142,416,751ISee footnote(32)
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 8, 2026 and initiated in-kind distributions of shares of Class C Common Stock on September 8, 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 8, 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 8, 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 8, 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 38,913, 123,469, 33,939 and 18,311 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 8, 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 8, 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 8, 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 8, 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 $515.8700 to $516.6300 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 $516.9351 to $517.9300 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 $517.9400 to $518.9300 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.
13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $518.9400 to $519.8700 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 $519.9900 to $520.9600 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.
15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $521.1960 to $522.1952 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 $522.1979 to $523.1700 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.
17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $523.2000 to $524.1998 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 $524.2092 to $525.1921 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 $525.2148 to $526.2100 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 $526.2200 to $527.2100 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 $527.2200 to $528.2100 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 $528.2300 to $529.2000 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.
23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $529.2800 to $530.2600 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 $530.3000 to $531.2700 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 $531.4200 to $532.4000 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 $532.4200 to $533.3900 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 $533.4900 to $534.4800 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 $534.4900 to $535.4100 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 $535.5000 to $536.0000 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.
30. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.0400 to $537.0000 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.
31. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 24,134 shares of Class C Common Stock, Silver Lake Partners IV, L.P. directly holds 21,317 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 12,470 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.
32. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,383,250 shares of Class B Common Stock, Silver Lake Partners IV, L.P. directly holds 16,818,228 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,103,686 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 111,587 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.P09/10/2026
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.09/10/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C.09/10/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C.09/10/2026
By: /s/ Justin G. Hamill, Attorney-in-fact for Egon Durban09/10/2026
** 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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