Silver Lake funds trade Dell Technologies (NYSE: DELL) stock and convert shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Silver Lake–affiliated funds and entities reported open-market sales of Dell Technologies Class C common stock and related share conversions on July 8, 2026. The transactions included selling 72,854 shares of Class C at weighted average prices between $419.54 and $438.28 per share and exercising/converting 95,960 shares of Class B into an equal number of Class C shares. Following these moves, one reporting entity indirectly holds 119,044 Class C shares and 17,291,507 Class B shares, while a separate indirect Class B position remains convertible into 26,573,304 Class C shares, all through Silver Lake–related vehicles.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 72,854 shares ($31,119,940)
Net Sell
26 txns
Insider
Silver Lake Partners 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
null | null | null | null | null
Sold
72,854 shs ($31.12M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class B Common Stock | 95,960 | $0.00 | -- |
| Exercise | Class C Common Stock | 95,960 | $0.00 | -- |
| Sale | Class C Common Stock | 5,277 | $420.21 | $2.22M |
| Sale | Class C Common Stock | 11,967 | $420.99 | $5.04M |
| Sale | Class C Common Stock | 5,584 | $421.96 | $2.36M |
| Sale | Class C Common Stock | 3,096 | $422.96 | $1.31M |
| Sale | Class C Common Stock | 3,942 | $424.05 | $1.67M |
| Sale | Class C Common Stock | 3,476 | $425.11 | $1.48M |
| Sale | Class C Common Stock | 1,435 | $426.14 | $612K |
| Sale | Class C Common Stock | 1,522 | $427.19 | $650K |
| Sale | Class C Common Stock | 4,183 | $428.20 | $1.79M |
| Sale | Class C Common Stock | 4,015 | $429.16 | $1.72M |
| Sale | Class C Common Stock | 4,125 | $430.23 | $1.77M |
| Sale | Class C Common Stock | 6,115 | $431.15 | $2.64M |
| Sale | Class C Common Stock | 5,864 | $432.29 | $2.53M |
| Sale | Class C Common Stock | 4,629 | $433.20 | $2.01M |
| Sale | Class C Common Stock | 1,935 | $434.18 | $840K |
| Sale | Class C Common Stock | 1,669 | $435.23 | $726K |
| Sale | Class C Common Stock | 2,227 | $436.33 | $972K |
| Sale | Class C Common Stock | 1,626 | $437.13 | $711K |
| Sale | Class C Common Stock | 167 | $438.00 | $73K |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 17,291,507 shares (Indirect, Held through Silver Lake Partners IV, L.P.);
Class C Common Stock — 119,044 shares (Indirect, Held through Silver Lake Partners IV, L.P.);
Class C Common Stock — 1,374,245 shares (Direct, null)
Footnotes (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 July 8, 2026. Each share of Class B Common Stock, par value $0.01 per share of the Issuer (the "Class B Common Stock") is convertible into one share of Class C Common Stock at any time, at the election of the holder or automatically upon certain transfers, and has no expiration date. On July 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 described in footnote (1) above. These securities are directly held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners 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. 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 a Co-CEO and Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. RESERVED RESERVED This amount reflects 29,494, 11,109, 28,109, 81,500 and 126 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P., SLG and Silver Lake Secondary Holdings L.P., respectively, on behalf of certain employees and managing members of SLG or its affiliates. Represents shares of Class C Common Stock held directly by Mr. Durban. Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $419.5400 to $420.5300 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 $420.5400 to $421.5100 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 $421.5400 to $422.5302 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 $422.5400 to $423.5200 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 $423.5679 to $424.5340 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 $424.5904 to $425.5890 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 $425.5900 to $426.5840 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 $426.6523 to $427.6200 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 $427.7000 to $428.6900 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 $428.7000 to $429.6900 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 $429.7000 to $430.6700 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 $430.7000 to $431.6900 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 $431.7167 to $432.7000 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 $432.7133 to $433.6700 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 $433.7300 to $434.7268 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 $434.7400 to $435.7349 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 $435.7604 to $436.7300 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 $436.7978 to $437.5863 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 $437.8600 to $438.2800 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. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 60,551 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 29,840 shares of Class C Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 0 shares of Class C Common Stock, and Silver Lake Technology Investors V, L.P. directly holds 0 shares of Class C Common Stock, which securities and transactions are reported on separate Form 4 filings. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,844,290 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,359,872 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 254,415 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 114,727 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Key Figures
Class C shares sold: 72,854 shares
Class B shares converted: 95,960 shares
Sale price range: $419.5400–$438.2800 per share
+4 more
7 metrics
Class C shares sold
72,854 shares
Total open-market or private transaction sales of Dell Class C common stock on July 8, 2026
Class B shares converted
95,960 shares
Class B common stock converted into an equal number of Class C shares on July 8, 2026
Sale price range
$419.5400–$438.2800 per share
Ranges of prices for multiple Class C sale tranches as described in pricing footnotes
Post-transaction Class C holding
119,044 shares
Class C common stock indirectly held by a Silver Lake–related entity after a reported exercise transaction
Post-transaction Class B holding
17,291,507 shares
Class B common stock indirectly held by a Silver Lake–related entity after a derivative exercise/conversion
Convertible Class B position
26,573,304 shares
Indirect Class B position described as convertible into an equal number of Class C shares with no expiration date
Single sale tranche example
11,967 shares at $420.9900
One reported Class C sale transaction with 11,967 shares at a weighted average price of $420.9900
Key Terms
weighted average price, convertible into one share, beneficially owned indirectly, director by deputization, +1 more
5 terms
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficially owned indirectly financial
"Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban"
director by deputization regulatory
"Each of the Reporting Persons may be deemed a director by deputization"
derivative security financial
"Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
What did Silver Lake affiliates report in this Dell (DELL) Form 4?
Silver Lake–related funds reported sales of Dell Class C shares and conversions of Class B into Class C on July 8, 2026, reflecting portfolio adjustments across several affiliated entities.
What Dell (DELL) holdings remain after the Silver Lake transactions?
After the reported transactions, one Silver Lake–related entity indirectly holds 119,044 Dell Class C shares and 17,291,507 Class B shares, and an indirect Class B position remains convertible into 26,573,304 Class C shares.
Who is the individual associated with the Silver Lake entities in the Dell (DELL) Form 4?
The filing lists Egon Durban as a director of Dell Technologies and as a Co‑CEO and Managing Member of Silver Lake Group, L.L.C., which is the managing member of one of the general partner entities.
Do the Dell (DELL) Form 4 footnotes describe the sale pricing in more detail?
Yes. Multiple footnotes state each reported price is a weighted average price and note that underlying trades occurred in narrow price ranges, with full breakdowns available on request to the reporting persons.