Director of Dell (NYSE: DELL) sells 41,292 shares held in trust

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Dell Technologies director David W. Dorman reported net open‑market sales of 41,292 shares of Class C Common Stock through a grantor retained annuity trust. The trust’s shares were sold on June 12, 2026 in several trades at weighted average prices around $405–$408 per share, with individual trades ranging from $404.67 to $408.235.

Following these transactions, the trust no longer holds Dell shares, while Dorman continues to own 78,224 shares directly. The filing characterizes the trust trades as open‑market sales, with detailed price ranges available upon request from the company or regulators.

Insights

Trust sells 41,292 Dell shares; director keeps sizable direct stake.

Director David W. Dorman had a grantor retained annuity trust sell 41,292 shares of Dell Technologies Class C stock in open‑market transactions. The sales occurred around $405–$408 per share, using multiple trades with weighted average prices.

The trust’s position is now zero, but Dorman still directly owns 78,224 shares, so his personal equity exposure remains meaningful. The filing does not show derivative exercises or tax‑related disposals, suggesting a straightforward portfolio move at the trust level rather than a complex transaction.

Insider Trade Summary

Net Seller: 41,292 shares ($16,760,157)

Net Sell 5 txns

Insider DORMAN DAVID W

Role null

Sold 41,292 shs ($16.76M)

Type	Security	Shares	Price	Value
Sale	Class C Common Stock	20,785	$405.23	$8.42M
Sale	Class C Common Stock	13,790	$406.09	$5.60M
Sale	Class C Common Stock	4,151	$407.28	$1.69M
Sale	Class C Common Stock	2,566	$407.97	$1.05M
holding	Class C Common Stock	--	--	--

Holdings After Transaction: Class C Common Stock — 20,507 shares (Indirect, By grantor retained annuity trust); Class C Common Stock — 78,224 shares (Direct, null)

Footnotes (1)

The price reported in Column 4 represents a weighted average sales price of $405.2285. These shares were sold in multiple transactions at prices ranging from $404.67 to $405.66, inclusive. The reporting person undertakes to provide to Dell Technologies Inc., any security holder of Dell Technologies Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in footnote 1 and footnotes 3 through 5 of this Form 4. On April 15, 2025, the reporting person contributed 41,292 shares to a grantor retained annuity trust. The price reported in Column 4 represents a weighted average sales price of $406.0895. These shares were sold in multiple transactions at prices ranging from $405.70 to $406.665, inclusive. The price reported in Column 4 represents a weighted average sales price of $407.2779. These shares were sold in multiple transactions at prices ranging from $406.80 to $407.795, inclusive. The price reported in Column 4 represents a weighted average sales price of $407.9697. These shares were sold in multiple transactions at prices ranging from $407.815 to $408.235, inclusive.

Key Figures

Shares sold by trust: 41,292 shares Weighted average sale price (footnote F1): $405.2285/share Weighted average sale price (footnote F3): $406.0895/share +4 more

7 metrics

Shares sold by trust 41,292 shares Class C Common Stock sold on June 12, 2026

Weighted average sale price (footnote F1) $405.2285/share Open-market sales within $404.67–$405.66 range

Weighted average sale price (footnote F3) $406.0895/share Open-market sales within $405.70–$406.665 range

Weighted average sale price (footnote F4) $407.2779/share Open-market sales within $406.80–$407.795 range

Weighted average sale price (footnote F5) $407.9697/share Open-market sales within $407.815–$408.235 range

Direct holdings after transactions 78,224 shares Class C Common Stock held directly by Dorman

Indirect holdings after transactions 0 shares Class C Common Stock held by grantor retained annuity trust

Key Terms

grantor retained annuity trust, weighted average sales price, open-market sale, indirect ownership, +1 more

5 terms

grantor retained annuity trust financial

"On April 15, 2025, the reporting person contributed 41,292 shares to a grantor retained annuity trust."

A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.

weighted average sales price financial

"The price reported in Column 4 represents a weighted average sales price of $405.2285."

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

""direct_or_indirect": "I", "nature_of_ownership": "By grantor retained annuity trust""

Form 4 regulatory

"footnotes 3 through 5 of this Form 4."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

06/16/2026 - 04:10 PM

SEC Form 4

FORM 4

UNITED 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^*

DORMAN DAVID W

(Last)

(First)

(Middle)

ONE DELL WAY

(Street)

ROUND ROCK

TEXAS

78682

(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)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class C Common Stock	06/12/2026		S		20,785	D	$405.23⁽¹⁾	20,507	I	By grantor retained annuity trust⁽²⁾
Class C Common Stock	06/12/2026		S		13,790	D	$406.09⁽³⁾	6,717	I	By grantor retained annuity trust⁽²⁾
Class C Common Stock	06/12/2026		S		4,151	D	$407.28⁽⁴⁾	2,566	I	By grantor retained annuity trust⁽²⁾
Class C Common Stock	06/12/2026		S		2,566	D	$407.97⁽⁵⁾	0	I	By grantor retained annuity trust⁽²⁾
Class C Common Stock								78,224	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The price reported in Column 4 represents a weighted average sales price of $405.2285. These shares were sold in multiple transactions at prices ranging from $404.67 to $405.66, inclusive. The reporting person undertakes to provide to Dell Technologies Inc., any security holder of Dell Technologies Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in footnote 1 and footnotes 3 through 5 of this Form 4.

2. On April 15, 2025, the reporting person contributed 41,292 shares to a grantor retained annuity trust.

3. The price reported in Column 4 represents a weighted average sales price of $406.0895. These shares were sold in multiple transactions at prices ranging from $405.70 to $406.665, inclusive.

4. The price reported in Column 4 represents a weighted average sales price of $407.2779. These shares were sold in multiple transactions at prices ranging from $406.80 to $407.795, inclusive.

5. The price reported in Column 4 represents a weighted average sales price of $407.9697. These shares were sold in multiple transactions at prices ranging from $407.815 to $408.235, inclusive.

Remarks:

	/s/ James Williamson, Attorney-in-Fact	06/16/2026
	** Signature of Reporting Person	Date
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 transaction did Dell Technologies (DELL) disclose for David W. Dorman?

Dell Technologies reported that director David W. Dorman’s grantor retained annuity trust sold 41,292 Class C shares in open‑market trades. The transactions occurred on June 12, 2026, at weighted average prices around $405–$408 per share, fully liquidating the trust’s Dell position.

How many Dell (DELL) shares did the grantor retained annuity trust sell and at what prices?

The trust associated with David W. Dorman sold 41,292 Dell Class C shares. Sales were executed in multiple open‑market transactions, with weighted average prices near $405–$408 and individual trade prices ranging from $404.67 to $408.235, according to the Form 4 footnotes.

Does David W. Dorman still own Dell Technologies (DELL) shares after the Form 4 transactions?

Yes. After the reported trades, David W. Dorman directly owns 78,224 Dell Class C shares. The 41,292 shares sold belonged to a grantor retained annuity trust, which now holds no Dell shares, while Dorman’s direct holdings remain unchanged by the trust’s sales.

Were the Dell (DELL) insider transactions open‑market sales or another type of trade?

The Form 4 describes the transactions as open‑market sales of Dell Class C stock. Each sale is coded “S” for sale, with the narrative specifying weighted average sales prices and indicating that the trades were executed in multiple transactions within disclosed price ranges.

What is the role of the grantor retained annuity trust in the Dell (DELL) insider filing?

The grantor retained annuity trust held Dell shares indirectly for David W. Dorman. On June 12, 2026, the trust sold all 41,292 of its Dell Class C shares, as shown by the indirect ownership entries and footnotes, leaving the trust with no remaining Dell holdings.