STOCK TITAN

[Form 4] Dell Technologies Inc. Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Very Negative)
Form Type
4

Dell Technologies (DELL) Form 4 shows coordinated sales and in‑kind distributions of Class C common stock by entities affiliated with Silver Lake and director Egon Durban during 10/06/202510/08/2025 Multiple affiliated funds sold Class C shares in tranches at weighted average prices ranging roughly from $149.24 to $153.99 per share and initiated pro rata in‑kind distributions on 10/08/2025.

The filing reports aggregate disposals including a line item of 1,166,822 shares disposed and continuing indirect holdings across several Silver Lake vehicles (e.g., SL SPV‑2, SLP IV, SLP V) with certain distributed receipts exempt from reporting under Rule 16a‑13. The filing is presented as a joint submission by multiple Silver Lake reporting persons and is signed by an attorney‑in‑fact.

Dell Technologies (DELL) Il modulo 4 mostra vendite coordinate e distribuzioni in natura di azioni ordinarie di Classe C da entità affiliate a Silver Lake e al direttore Egon Durban durante 10/06/202510/08/2025.

Molti fondi affiliati hanno venduto azioni Classe C in tranche a prezzi ponderati medi che vanno approssimativamente da $149.24 a $153.99 per azione e hanno avviato distribuzioni pro rata in natura il 10/08/2025.

La dichiarazione riporta dismissioni aggregate tra cui una voce di 1,166,822 azioni liquidate e partecipazioni indirette continuano in diversi veicoli Silver Lake (p. es., SL SPV‑2, SLP IV, SLP V) con alcuni ricevuti distribuiti esenti dalla segnalazione secondo la Rule 16a‑13. La presentazione è fornita come deposito congiunto da parte di più soggetti riportanti Silver Lake ed è firmata da un procuratore.

Dell Technologies (DELL) El Formulario 4 muestra ventas coordinadas y distribuciones en especie de acciones comunes de Clase C por entidades afiliadas a Silver Lake y al director Egon Durban durante 10/06/202510/08/2025.

Varias entidades fiduciarias afiliadas vendieron acciones Clase C en tramos a precios ponderados promediados que van aproximadamente desde $149.24 hasta $153.99 por acción e iniciaron distribuciones en especie prorrateadas el 10/08/2025.

La declaración reporta disposiciones agregadas, incluyendo una línea de 1,166,822 acciones desinversionadas y participaciones indirectas continuas en varios vehículos de Silver Lake (p. ej., SL SPV‑2, SLP IV, SLP V) con ciertos recibos distribuidos exentos de reporte bajo la Regla 16a‑13. La presentación se presenta como una entrega conjunta de varias personas reportantes de Silver Lake y está firmada por un apoderado.

Dell Technologies (DELL) Form 4는 Silver Lake에 계열된 기관들과 이사인 Egon Durban이 2025-10-06부터 2025-10-08까지 클래스 C 보통주에 대한 공동 매매 및 현물 분배를 보여줍니다.

다수의 계열 펀드가 가중 평균가로 대략 $149.24에서 $153.99 사이의 가격으로 클래스 C 주식을 트랜치별로 매도하고 2025-10-08에 비례 현물 분배를 시작했습니다.

공시는 총 처분 내역을 포함하여 1,166,822주 처분을 포함하고, Silver Lake의 여러 운용 vehicle(SL SPV‑2, SLP IV, SLP V 등)에 걸친 간접 보유를 계속 유지하며, 일부 분배 수익은 Rule 16a‑13에 따라 보고에서 면제됩니다. 이 제출은 다수의 Silver Lake 보고자들의 공동 제출로 제시되며 대리인에 의해 서명되었습니다.

Dell Technologies (DELL) Le Form 4 montre des ventes coordonnées et des distributions en nature d’actions ordinaires de Classe C par des entités affiliées à Silver Lake et au directeur Egon Durban pendant la période du 06/10/2025 au 08/10/2025.

Plusieurs fonds affiliés ont vendu des actions de Classe C en tranches à des prix moyens pondérés allant approximativement de $149.24 à $153.99 par action et ont initié des distributions en nature au prorata le 08/10/2025.

La saisie rapporte des cessions agrégées incluant une ligne de 1,166,822 actions cédées et des participations indirectes continues à travers plusieurs véhicules Silver Lake (par ex., SL SPV‑2, SLP IV, SLP V) avec certains reçus distribués exonérés de reporting en vertu de la Rule 16a‑13. Le dossier est présenté comme une soumission conjointe par plusieurs personnes déclarantes de Silver Lake et est signé par un mandataire.

Dell Technologies (DELL) Das Form 4 zeigt koordinierte Verkäufe und Sachverteilungen von Class-C-Stammaktien durch mit Silver Lake verbundene Einheiten und den Direktor Egon Durban im Zeitraum 10.06.2025 bis 10.08.2025.

Mehrere affiliierte Fonds verkauften Class-C-Anteile in Tranchen zu gewichteten Durchschnittspreisen zwischen ca. $149.24 und $153.99 pro Aktie und begannen am 10.08.2025 pro rata in‑kind-Verteilungen.

Der Bericht weist aggregierte Veräußerungen aus, einschließlich einer Position von 1,166,822 Aktien veräußert und fortbestehende indirekte Beteiligungen an mehreren Silver-Lake-Vehikeln (z. B. SL SPV‑2, SLP IV, SLP V) mit bestimmten verteilten Empfangsquittungen, die unter Rule 16a‑13 von der Berichterstattung ausgenommen sind. Die Einreichung wird als gemeinsamer Bericht mehrerer Silver-Lake-Reporting-Personen präsentiert und von einem Bevollmächtigten unterzeichnet.

Dell Technologies (DELL) يظهر النموذج 4 عمليات بيع منسقة وتوزيعات عينية للأسهم العادية من Class C من كيانات مرتبطة بـ Silver Lake والمدير Egon Durban خلال الفترة من 10/06/2025 إلى 10/08/2025.

بيعت أسهم Class C من عدة صناديق مرتبطة على شكل دفعات بأسعار وزنية تقارب من $149.24 إلى $153.99 للسهم وبدأت توزيعات عينية نسبية في 10/08/2025.

تقرير الإيداع يفيد بعمليات تصرف مجمعة بما في ذلك سطر يقول 1,166,822 سهم تم التصرف بها واستمرار ملكيات غير مباشرة عبر عدد من مركبات Silver Lake (مثل SL SPV‑2, SLP IV, SLP V) مع استلامات موزعة معفاة من الإبلاغ وفق Rule 16a‑13. يتم تقديم الإيداع كمهمة مشتركة من قبل عدة أشخاص تقريرين من Silver Lake وموقّع من وكيل قانوني.

Dell Technologies (DELL) Form 4 显示 Silver Lake 及董事 Egon Durban 的关联实体在 2025-10-062025-10-08 期间对 Classe C 普通股的协调性销售和实物分配。

多家关联基金以权重平均价在约 $149.24$153.99 每股之间的区间分阶段出售 Classe C 股,并于 2025-10-08 启动按比例的实物分配。

该申报报告了总处置情况,其中包括一项 1,166,822 股的处置,以及通过 Silver Lake 的若干投资实体(如 SL SPV‑2、SLP IV、SLP V)持续的间接持有,部分分配所得免于按 Rule 16a‑13 报告。该申报作为由多位 Silver Lake 报告人共同提交,并由代理律师签署。

Positive
  • Transparent disclosure of multiple transactions with weighted average price ranges and footnotes explaining conversions and distributions
  • Use of Rule 16a‑13 exemption is noted, clarifying why certain distributed shares were not required to be reported immediately
Negative
  • Material sell-downs reported, including an aggregate disposal line of 1,166,822 shares, which may be viewed as significant insider‑related supply
  • Complex indirect ownership across many affiliated vehicles reduces clarity on ultimate beneficial ownership post‑distribution

Insights

Large affiliated sales and in‑kind distributions by Silver Lake were disclosed, with specific weighted average sale prices and exemptions noted.

The filing documents multiple dispositions of Class C shares across affiliated funds and lists indirect post‑transaction holdings, reflecting a portfolio rebalancing and distributions to limited partners and employees. The sale price ranges are disclosed as weighted averages from $149.2356 to $153.9993.

Dependencies include internal allocation mechanics and Rule 16a‑13 exemptions for in‑kind receipts; monitor any subsequent Form 4s that report additional dispositions or conversions, and watch for potential changes in indirect holdings over the next few reporting cycles.

Dell Technologies (DELL) Il modulo 4 mostra vendite coordinate e distribuzioni in natura di azioni ordinarie di Classe C da entità affiliate a Silver Lake e al direttore Egon Durban durante 10/06/202510/08/2025.

Molti fondi affiliati hanno venduto azioni Classe C in tranche a prezzi ponderati medi che vanno approssimativamente da $149.24 a $153.99 per azione e hanno avviato distribuzioni pro rata in natura il 10/08/2025.

La dichiarazione riporta dismissioni aggregate tra cui una voce di 1,166,822 azioni liquidate e partecipazioni indirette continuano in diversi veicoli Silver Lake (p. es., SL SPV‑2, SLP IV, SLP V) con alcuni ricevuti distribuiti esenti dalla segnalazione secondo la Rule 16a‑13. La presentazione è fornita come deposito congiunto da parte di più soggetti riportanti Silver Lake ed è firmata da un procuratore.

Dell Technologies (DELL) El Formulario 4 muestra ventas coordinadas y distribuciones en especie de acciones comunes de Clase C por entidades afiliadas a Silver Lake y al director Egon Durban durante 10/06/202510/08/2025.

Varias entidades fiduciarias afiliadas vendieron acciones Clase C en tramos a precios ponderados promediados que van aproximadamente desde $149.24 hasta $153.99 por acción e iniciaron distribuciones en especie prorrateadas el 10/08/2025.

La declaración reporta disposiciones agregadas, incluyendo una línea de 1,166,822 acciones desinversionadas y participaciones indirectas continuas en varios vehículos de Silver Lake (p. ej., SL SPV‑2, SLP IV, SLP V) con ciertos recibos distribuidos exentos de reporte bajo la Regla 16a‑13. La presentación se presenta como una entrega conjunta de varias personas reportantes de Silver Lake y está firmada por un apoderado.

Dell Technologies (DELL) Form 4는 Silver Lake에 계열된 기관들과 이사인 Egon Durban이 2025-10-06부터 2025-10-08까지 클래스 C 보통주에 대한 공동 매매 및 현물 분배를 보여줍니다.

다수의 계열 펀드가 가중 평균가로 대략 $149.24에서 $153.99 사이의 가격으로 클래스 C 주식을 트랜치별로 매도하고 2025-10-08에 비례 현물 분배를 시작했습니다.

공시는 총 처분 내역을 포함하여 1,166,822주 처분을 포함하고, Silver Lake의 여러 운용 vehicle(SL SPV‑2, SLP IV, SLP V 등)에 걸친 간접 보유를 계속 유지하며, 일부 분배 수익은 Rule 16a‑13에 따라 보고에서 면제됩니다. 이 제출은 다수의 Silver Lake 보고자들의 공동 제출로 제시되며 대리인에 의해 서명되었습니다.

Dell Technologies (DELL) Le Form 4 montre des ventes coordonnées et des distributions en nature d’actions ordinaires de Classe C par des entités affiliées à Silver Lake et au directeur Egon Durban pendant la période du 06/10/2025 au 08/10/2025.

Plusieurs fonds affiliés ont vendu des actions de Classe C en tranches à des prix moyens pondérés allant approximativement de $149.24 à $153.99 par action et ont initié des distributions en nature au prorata le 08/10/2025.

La saisie rapporte des cessions agrégées incluant une ligne de 1,166,822 actions cédées et des participations indirectes continues à travers plusieurs véhicules Silver Lake (par ex., SL SPV‑2, SLP IV, SLP V) avec certains reçus distribués exonérés de reporting en vertu de la Rule 16a‑13. Le dossier est présenté comme une soumission conjointe par plusieurs personnes déclarantes de Silver Lake et est signé par un mandataire.

Dell Technologies (DELL) Das Form 4 zeigt koordinierte Verkäufe und Sachverteilungen von Class-C-Stammaktien durch mit Silver Lake verbundene Einheiten und den Direktor Egon Durban im Zeitraum 10.06.2025 bis 10.08.2025.

Mehrere affiliierte Fonds verkauften Class-C-Anteile in Tranchen zu gewichteten Durchschnittspreisen zwischen ca. $149.24 und $153.99 pro Aktie und begannen am 10.08.2025 pro rata in‑kind-Verteilungen.

Der Bericht weist aggregierte Veräußerungen aus, einschließlich einer Position von 1,166,822 Aktien veräußert und fortbestehende indirekte Beteiligungen an mehreren Silver-Lake-Vehikeln (z. B. SL SPV‑2, SLP IV, SLP V) mit bestimmten verteilten Empfangsquittungen, die unter Rule 16a‑13 von der Berichterstattung ausgenommen sind. Die Einreichung wird als gemeinsamer Bericht mehrerer Silver-Lake-Reporting-Personen präsentiert und von einem Bevollmächtigten unterzeichnet.

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*
SLTA IV (GP), L.L.C.

(Last) (First) (Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100

(Street)
MENLO PARK CA 94025

(City) (State) (Zip)
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 X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
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)
Code V Amount (A) or (D) Price
Class C Common Stock 10/07/2025 S(1)(2) 58,804 D $149.99(14) 233,318 I Held through SL SPV-2, L.P.(3)(9)
Class C Common Stock 10/07/2025 S(1)(2) 67,957 D $149.99(14) 201,219 I Held through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock 10/07/2025 S(1)(2) 34,835 D $149.99(14) 118,654 I Held through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock 10/07/2025 S(1)(2) 1,297 D $149.99(14) 1,457 I Held through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock 10/07/2025 S(1)(2) 585 D $149.99(14) 657 I Held through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock 10/07/2025 S(1)(2) 2,815 D $150.45(15) 230,503 I Held through SL SPV-2, L.P.(3)(9)
Class C Common Stock 10/07/2025 S(1)(2) 3,253 D $150.45(15) 197,966 I Held through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock 10/07/2025 S(1)(2) 1,667 D $150.45(15) 116,987 I Held through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock 10/07/2025 S(1)(2) 62 D $150.45(15) 1,395 I Held through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock 10/07/2025 S(1)(2) 28 D $150.45(15) 629 I Held through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock 10/07/2025 S(1)(2) 9,126 D $152.51(16) 221,377 I Held through SL SPV-2, L.P.(3)(9)
Class C Common Stock 10/07/2025 S(1)(2) 10,547 D $152.51(16) 187,420 I Held through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock 10/07/2025 S(1)(2) 5,406 D $152.51(16) 111,581 I Held through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock 10/07/2025 S(1)(2) 201 D $152.51(16) 1,194 I Held through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock 10/07/2025 S(1)(2) 91 D $152.51(16) 538 I Held through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock 10/07/2025 S(1)(2) 47,176 D $153.28(17) 174,201 I Held through SL SPV-2, L.P.(3)(9)
Class C Common Stock 10/07/2025 S(1)(2) 54,519 D $153.28(17) 132,901 I Held through Silver Lake Partners IV, L.P.(4)(9)
Class C Common Stock 10/07/2025 S(1)(2) 27,947 D $153.28(17) 83,634 I Held through Silver Lake Partners V DE (AIV), L.P.(5)(9)
Class C Common Stock 10/07/2025 S(1)(2) 1,041 D $153.28(17) 153 I Held through Silver Lake Technology Investors IV, L.P.(6)(9)
Class C Common Stock 10/07/2025 S(1)(2) 470 D $153.28(17) 69 I Held through Silver Lake Technology Investors V, L.P.(7)(9)
Class C Common Stock 2,366 I Held through Silver Lake Group, L.L.C.(8)(9)
Class C Common Stock 2,055 I See footnote(10)
Class C Common Stock 249,043 I See footnote(11)
Class C Common Stock 1,166,822 D(12)
Class C Common Stock 46,457 I See footnote(13)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
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 CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% 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 CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% 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 CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Silver Lake Partners IV, L.P.

(Last) (First) (Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100

(Street)
MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
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 CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
SLTA SPV-2 (GP), L.L.C.

(Last) (First) (Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100

(Street)
MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
SLTA SPV-2, L.P.

(Last) (First) (Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100

(Street)
MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
SL SPV-2, L.P.

(Last) (First) (Middle)
C/O SILVER LAKE,
2775 SAND HILL ROAD, SUITE 100

(Street)
MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% 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 CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. SL SPV-2, L.P. ("SPV-2"), Silver Lake Partners IV, L.P. ("SLP IV"), Silver Lake Partners V DE (AIV), L.P. ("SLP V") 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 October 6, 2025 and October 7, 2025 and initiated in-kind distributions of shares of Class C Common Stock on October 8, 2025. 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 October 6, 2025 and October 7, 2025, 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 directly held by SPV-2. The general partner of SPV-2 is SLTA SPV-2, L.P. ("SLTA SPV") and the general partner of SLTA SPV is SLTA SPV-2 (GP), L.L.C. ("SLTA SPV GP").
4. These securities are directly held by SLP IV. The general partner of SLP IV is Silver Lake Technology Associates IV, L.P. ("SLTA IV") and the general partner of SLTA IV is SLTA IV (GP), L.L.C. ("SLTA IV GP").
5. These securities are directly held by SLP V. The general partner of SLP V is Silver Lake Technology Associates V, L.P. ("SLTA V") and the general partner of SLTA V is SLTA V (GP), L.L.C. ("SLTA V GP").
6. 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 SLTA IV and the general partner of SLTA IV is SLTA IV GP.
7. These securities are directly held by Silver Lake Technology Investors V, L.P. The general partner of Silver Lake Technology Investors V, L.P. is SLTA V and the general partner of SLTA V is SLTA V GP.
8. Reflects shares held by Silver Lake Group, L.L.C. ("SLG"). Shares held includes shares of Class C Common Stock received in connection with the pro rata distributions described herein on October 8, 2025. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
9. SLG is the managing member of SLTA SPV GP, SLTA IV GP and SLTA V GP. 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.
10. These shares of 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 October 8, 2025. 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.
11. In connection with the distributions described in footnote (1) above, pro rata distributions of certain shares were initiated to certain employees and managing members of SLG or its affiliates, including Egon Durban. This amount reflects 63,154, 78, 36,638 and 149,173 shares held by SLTA SPV, SLTA IV, SLTA V and SLG, respectively, on behalf of such individuals, including shares distributed in the October 8, 2025 distributions. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
12. Represents shares of Class C Common Stock held by Mr. Durban immediately following the receipt of shares in connection with the distributions of shares of Class C Common Stock on October 8, 2025. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
13. 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 October 8, 2025. 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.
14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $149.2356 to $150.2239 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 $150.2364 to $151.0700 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 $152.00 to $152.9948 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 $153.00 to $153.9993 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.
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. Because 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. Because no more than 30 transactions can be listed on each Table of the Form 4 filing, the Reporting Persons have filed separate Forms 4 reporting additional transactions.
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C. 10/08/2025
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C. 10/08/2025
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C., general partner of Silver Lake Technology Associates IV, L.P. 10/08/2025
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C., general partner of Silver Lake Technology Associates IV, L.P., general partner of Silver Lake Partners IV, L.P. 10/08/2025
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C., GP of Silver Lake Technology Associates IV, L.P., GP of Silver Lake Technology Investors IV, L.P. 10/08/2025
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA SPV-2 (GP), L.L.C. 10/08/2025
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA SPV-2 (GP), L.L.C., general partner of SLTA SPV-2, L.P. 10/08/2025
By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA SPV-2 (GP), L.L.C., general partner of SLTA SPV-2, L.P., general partner of SL SPV-2, L.P. 10/08/2025
By: /s/ Justin G. Hamill, Attorney-in-fact for Egon Durban 10/08/2025
** 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.

FAQ

What insider activity did Silver Lake report for DELL on Form 4?

Silver Lake affiliates reported multiple sales and in‑kind distributions of Class C common stock between 10/06/2025 and 10/08/2025, with weighted average sale prices roughly between $149.24 and $153.99 per share.

How many DELL shares were disposed by the reporting persons?

The filing shows multiple disposals across entities, including a reported disposal line of 1,166,822 shares and many smaller tranche sales disclosed by affiliated funds.

Why were some distributed DELL shares exempt from reporting?

Certain pro rata in‑kind distributions of Class C shares on 10/08/2025 were stated as exempt from reporting under Rule 16a‑13 of the Exchange Act.

Did Egon Durban personally sell shares according to this Form 4?

The filing shows disposals and indirect holdings through Silver Lake entities; it notes indirect pecuniary interests and distributions to Mr. Durban but disclaims direct beneficial ownership except to the extent of any pecuniary interest.

What price ranges were the DELL shares sold at?

Footnotes disclose weighted average prices with sale price ranges spanning approximately $149.2356 to $153.9993 per share across multiple transactions.
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