Were any Dell (DELL) share distributions in the Silver Lake Form 4 exempt from reporting?

Yes, several in-kind distributions and receipts were exempt under Rule 16a-13 of the Exchange Act. Footnotes state that Class C shares received by Silver Lake entities and by Egon Durban, directly and through certain vehicles, qualified for this reporting exemption.

Silver Lake funds trim Dell (NYSE: DELL) stake after share conversions

Q: What insider activity did Silver Lake entities report in Dell (DELL) shares?

Silver Lake–affiliated funds reported mixed Dell activity , including net open-market sales of 514,417 Class C shares and conversions of Class B into Class C stock. Transactions were executed through several Silver Lake vehicles and disclosed as indirect ownership positions.

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Dell Technologies Inc. disclosed a series of insider transactions by Silver Lake–affiliated funds that are directors and 10% owners by deputization. On March 4, 2026, entities including SL SPV-2, L.P., Silver Lake Partners IV, L.P. and Silver Lake Partners V DE (AIV), L.P. sold an aggregate 514,417 shares of Class C Common Stock in open-market transactions at weighted-average prices reported between $146.48 and $147.67 per share.

In connection with these sales and related pro rata in-kind distributions initiated on March 5, 2026, certain Reporting Persons converted Class B Common Stock into an equal number of Class C shares through derivative exercises coded “M”. Footnotes state that multiple Silver Lake vehicles and Silver Lake Group, L.L.C. directly hold the securities and that the in-kind distributions and related receipts were exempt from reporting under Rule 16a-13 of the Exchange Act.

Insider Trade Summary

Net Seller: 514,417 shares ($75,530,778)

Net Sell 28 txns

Insider SLTA V (GP), L.L.C., Silver Lake Technology Associates V, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors V, L.P.

Role Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner

Sold 514,417 shs ($75.53M)

Type	Security	Shares	Price	Value
Sale	Class C Common Stock	2,366	$146.75	$347K
Sale	Class C Common Stock	2,051	$146.75	$301K
Other	Class C Common Stock	168,047	$0.00	--
Other	Class C Common Stock	124,213	$0.00	--
Other	Class C Common Stock	79,222	$0.00	--
Exercise	Class B Common Stock	267,863	$0.00	--
Exercise	Class B Common Stock	274,976	$0.00	--
Exercise	Class B Common Stock	148,844	$0.00	--
Exercise	Class B Common Stock	4,046	$0.00	--
Exercise	Class B Common Stock	1,824	$0.00	--
Exercise	Class C Common Stock	267,863	$0.00	--
Exercise	Class C Common Stock	274,976	$0.00	--
Exercise	Class C Common Stock	148,844	$0.00	--
Exercise	Class C Common Stock	4,046	$0.00	--
Exercise	Class C Common Stock	1,824	$0.00	--
Sale	Class C Common Stock	79,343	$146.50	$11.62M
Sale	Class C Common Stock	91,977	$146.50	$13.47M
Sale	Class C Common Stock	47,199	$146.50	$6.91M
Sale	Class C Common Stock	1,754	$146.50	$257K
Sale	Class C Common Stock	791	$146.50	$116K
Sale	Class C Common Stock	103,705	$147.08	$15.25M
Sale	Class C Common Stock	120,216	$147.08	$17.68M
Sale	Class C Common Stock	61,690	$147.08	$9.07M
Sale	Class C Common Stock	2,292	$147.08	$337K
Sale	Class C Common Stock	1,033	$147.08	$152K
holding	Class C Common Stock	--	--	--
holding	Class C Common Stock	--	--	--
holding	Class C Common Stock	--	--	--

Holdings After Transaction: Class C Common Stock — 0 shares (Indirect, Held through Silver Lake Group, L.L.C.); Class B Common Stock — 19,448,288 shares (Indirect, Held through SL SPV-2, L.P.); Class C Common Stock — 1,240,587 shares (Direct)

Footnotes (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 March 4, 2026 and initiated in-kind distributions of shares of Class C Common Stock on March 5, 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. 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 March 4 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. 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"). 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"). 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"). 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. 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. 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 March 5, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. 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. These shares of Common Stock were 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 March 5, 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. 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 7,940, 4,750 and 29,376 shares held by SLTA SPV, SLTA V and SLG, respectively, on behalf of such individuals, including shares distributed in the March 5, 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. 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 March 5, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. 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 March 5, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $146.75 to $147.67 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $146.48 to $147.02 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.

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Form 4 Insider Transactions: What Each Field Means →

03/06/2026 - 05:00 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^*

SLTA V (GP), L.L.C.

(Last)

(First)

(Middle)

C/O SILVER LAKE

2775 SAND HILL ROAD, SUITE 100

(Street)

MENLO PARK

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)
03/04/2026

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)
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	03/04/2026		M⁽¹⁾⁽²⁾		267,863	A	⁽¹⁾⁽²⁾	351,095	I	Held through SL SPV-2, L.P.⁽³⁾⁽⁹⁾
Class C Common Stock	03/04/2026		M⁽¹⁾⁽²⁾		274,976	A	⁽¹⁾⁽²⁾	336,406	I	Held through Silver Lake Partners IV, L.P.⁽⁴⁾⁽⁹⁾
Class C Common Stock	03/04/2026		M⁽¹⁾⁽²⁾		148,844	A	⁽¹⁾⁽²⁾	188,111	I	Held through Silver Lake Partners V DE (AIV), L.P.⁽⁵⁾⁽⁹⁾
Class C Common Stock	03/04/2026		M⁽¹⁾⁽²⁾		4,046	A	⁽¹⁾⁽²⁾	4,046	I	Held through Silver Lake Technology Investors IV, L.P.⁽⁶⁾⁽⁹⁾
Class C Common Stock	03/04/2026		M⁽¹⁾⁽²⁾		1,824	A	⁽¹⁾⁽²⁾	1,824	I	Held through Silver Lake Technology Investors V, L.P.⁽⁷⁾⁽⁹⁾
Class C Common Stock	03/04/2026		S		79,343	D	$146.5	271,752	I	Held through SL SPV-2, L.P.⁽³⁾⁽⁹⁾
Class C Common Stock	03/04/2026		S		91,977	D	$146.5	244,429	I	Held through Silver Lake Partners IV, L.P.⁽⁴⁾⁽⁹⁾
Class C Common Stock	03/04/2026		S		47,199	D	$146.5	140,912	I	Held through Silver Lake Partners V DE (AIV), L.P.⁽⁵⁾⁽⁹⁾
Class C Common Stock	03/04/2026		S		1,754	D	$146.5	2,292	I	Held through Silver Lake Technology Investors IV, L.P.⁽⁶⁾⁽⁹⁾
Class C Common Stock	03/04/2026		S		791	D	$146.5	1,033	I	Held through Silver Lake Technology Investors V, L.P.⁽⁷⁾⁽⁹⁾
Class C Common Stock	03/04/2026		S		103,705	D	$147.08⁽¹⁴⁾	168,047	I	Held through SL SPV-2, L.P.⁽³⁾⁽⁹⁾
Class C Common Stock	03/04/2026		S		120,216	D	$147.08⁽¹⁴⁾	124,213	I	Held through Silver Lake Partners IV, L.P.⁽⁴⁾⁽⁹⁾
Class C Common Stock	03/04/2026		S		61,690	D	$147.08⁽¹⁴⁾	79,222	I	Held through Silver Lake Partners V DE (AIV), L.P.⁽⁵⁾⁽⁹⁾
Class C Common Stock	03/04/2026		S		2,292	D	$147.08⁽¹⁴⁾	0	I	Held through Silver Lake Technology Investors IV, L.P.⁽⁶⁾⁽⁹⁾
Class C Common Stock	03/04/2026		S		1,033	D	$147.08⁽¹⁴⁾	0	I	Held through Silver Lake Technology Investors V, L.P.⁽⁷⁾⁽⁹⁾
Class C Common Stock	03/05/2026		J⁽¹⁾⁽²⁾		168,047	D	⁽¹⁾	0	I	Held through SL SPV-2, L.P.⁽³⁾⁽⁹⁾
Class C Common Stock	03/05/2026		J⁽¹⁾⁽²⁾		124,213	D	⁽¹⁾	0	I	Held through Silver Lake Partners IV, L.P.⁽⁴⁾⁽⁹⁾
Class C Common Stock	03/05/2026		J⁽¹⁾⁽²⁾		79,222	D	⁽¹⁾	0	I	Held through Silver Lake Partners V DE (AIV), L.P.⁽⁵⁾⁽⁹⁾
Class C Common Stock	03/06/2026		S		2,366	D	$146.75⁽¹⁵⁾	0	I	Held through Silver Lake Group, L.L.C.⁽⁸⁾⁽⁹⁾
Class C Common Stock	03/06/2026		S		2,051	D	$146.75⁽¹⁵⁾	0	I	See footnote⁽¹⁰⁾
Class C Common Stock								42,066	I	See footnote⁽¹¹⁾
Class C Common Stock								1,240,587	D⁽¹²⁾
Class C Common Stock								51,542	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)
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)
Class B Common Stock	⁽²⁾	03/04/2026		M⁽¹⁾⁽²⁾			267,863	⁽²⁾	⁽²⁾	Class C Common Stock	267,863	$0	19,448,288	I	Held through SL SPV-2, L.P.⁽³⁾⁽⁹⁾
Class B Common Stock	⁽²⁾	03/04/2026		M⁽¹⁾⁽²⁾			274,976	⁽²⁾	⁽²⁾	Class C Common Stock	274,976	$0	19,964,642	I	Held through Silver Lake Partners IV, L.P.⁽⁴⁾⁽⁹⁾
Class B Common Stock	⁽²⁾	03/04/2026		M⁽¹⁾⁽²⁾			148,844	⁽²⁾	⁽²⁾	Class C Common Stock	148,844	$0	10,806,836	I	Held through Silver Lake Partners V DE (AIV), L.P.⁽⁵⁾⁽⁹⁾
Class B Common Stock	⁽²⁾	03/04/2026		M⁽¹⁾⁽²⁾			4,046	⁽²⁾	⁽²⁾	Class C Common Stock	4,046	$0	293,746	I	Held through Silver Lake Technology Investors IV, L.P.⁽⁶⁾⁽⁹⁾
Class B Common Stock	⁽²⁾	03/04/2026		M⁽¹⁾⁽²⁾			1,824	⁽²⁾	⁽²⁾	Class C Common Stock	1,824	$0	132,463	I	Held through Silver Lake Technology Investors V, L.P.⁽⁷⁾⁽⁹⁾

1. Name and Address of Reporting Person^*

SLTA V (GP), L.L.C.

(Last)

(First)

(Middle)

C/O SILVER LAKE

2775 SAND HILL ROAD, SUITE 100

(Street)

MENLO PARK

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 V, L.P.

(Last)

(First)

(Middle)

C/O SILVER LAKE

2775 SAND HILL ROAD, SUITE 100

(Street)

MENLO PARK

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 V DE (AIV), L.P.

(Last)

(First)

(Middle)

C/O SILVER LAKE

2775 SAND HILL ROAD, SUITE 100

(Street)

MENLO PARK

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 V, L.P.

(Last)

(First)

(Middle)

C/O SILVER LAKE

2775 SAND HILL ROAD, SUITE 100

(Street)

MENLO PARK

94025

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	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 March 4, 2026 and initiated in-kind distributions of shares of Class C Common Stock on March 5, 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 March 4 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 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 March 5, 2026. 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 were 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 March 5, 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.

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 7,940, 4,750 and 29,376 shares held by SLTA SPV, SLTA V and SLG, respectively, on behalf of such individuals, including shares distributed in the March 5, 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.

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 March 5, 2026. 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 March 5, 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.

14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $146.75 to $147.67 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 $146.48 to $147.02 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.

	By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA V (GP), L.L.C.	03/06/2026
	By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA V (GP), L.L.C., general partner of Silver Lake Technology Associates V, L.P.	03/06/2026
	By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA V (GP), L.L.C., general partner of Silver Lake Technology Associates V, L.P., general partner of Silver Lake Partners V DE (AIV), LP	03/06/2026
	By: /s/ Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA V (GP), L.L.C., gen. partner of Silver Lake Technology Associates V, L.P., gen. partner of Silver Lake Technology Investors V, L.P.	03/06/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did Silver Lake entities report in Dell (DELL) shares?

Silver Lake–affiliated funds reported mixed Dell activity, including net open-market sales of 514,417 Class C shares and conversions of Class B into Class C stock. Transactions were executed through several Silver Lake vehicles and disclosed as indirect ownership positions.

At what prices did Silver Lake funds sell Dell (DELL) Class C Common Stock?

Silver Lake entities disclosed weighted-average sale prices ranging from $146.48 to $147.67 per Dell Class C share. Footnotes explain these were multiple trades within those ranges, with full price breakdowns available on request to the issuer, shareholders, or SEC staff.

How many Dell (DELL) Class C shares did Silver Lake entities sell in this Form 4?

The filing shows net open-market sales of 514,417 Class C shares by Silver Lake–related entities. These transactions were reported as indirect sales across several funds and special purpose vehicles associated with Silver Lake’s investment in Dell Technologies.

What role did Class B Common Stock conversions play in the Dell (DELL) Form 4?

Certain Silver Lake entities converted Class B into Class C shares via derivative exercises coded “M”. Each Class B share is convertible into one Class C share at any time or automatically upon certain transfers, with no expiration date, supporting the reported sales and distributions.

Which entities actually held the Dell (DELL) shares in the Silver Lake Form 4?

The shares were directly held by multiple Silver Lake funds, including SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., and Silver Lake Technology Investors funds, with Silver Lake Group, L.L.C. described as managing member of several general partners.

Silver Lake funds trim Dell (NYSE: DELL) stake after share conversions

Rhea-AI Filing Summary

Positive

Negative

Insider Trade Summary

FAQ

What insider activity did Silver Lake entities report in Dell (DELL) shares?

At what prices did Silver Lake funds sell Dell (DELL) Class C Common Stock?

How many Dell (DELL) Class C shares did Silver Lake entities sell in this Form 4?

What role did Class B Common Stock conversions play in the Dell (DELL) Form 4?

Were any Dell (DELL) share distributions in the Silver Lake Form 4 exempt from reporting?

Which entities actually held the Dell (DELL) shares in the Silver Lake Form 4?