Silver Lake cuts Dell Technologies (NYSE: DELL) stake by 37,934 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Silver Lake–affiliated funds reported a series of ownership changes in Dell Technologies Class C Common Stock on June 4, 2026. Through Silver Lake Partners V DE (AIV), L.P. and related entities, they sold 37,934 shares in open‑market transactions at weighted average prices in the low‑$400s per share.
They also recorded an internal restructuring transaction involving 94,207 shares, reflecting in‑kind distributions of Dell stock to Silver Lake affiliates, employees, and managing members. Footnotes state that certain Reporting Persons converted Class B into Class C shares and that these in‑kind receipts were exempt from reporting under Rule 16a-13. Director Egon Durban’s interests are primarily through these Silver Lake entities rather than direct trading.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 37,934 shares ($16,104,908)
Net Sell
15 txns
Insider
Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Associates V, L.P., SLTA V (GP), L.L.C., Silver Lake Group, L.L.C., Durban Egon
Role
null | null | null | null | null
Sold
37,934 shs ($16.10M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class C Common Stock | 7,316 | $421.85 | $3.09M |
| Sale | Class C Common Stock | 3,975 | $422.97 | $1.68M |
| Sale | Class C Common Stock | 7,238 | $423.94 | $3.07M |
| Sale | Class C Common Stock | 8,910 | $425.02 | $3.79M |
| Sale | Class C Common Stock | 3,332 | $425.83 | $1.42M |
| Sale | Class C Common Stock | 4,007 | $427.12 | $1.71M |
| Sale | Class C Common Stock | 2,571 | $428.08 | $1.10M |
| Sale | Class C Common Stock | 493 | $428.89 | $211K |
| Sale | Class C Common Stock | 92 | $430.11 | $40K |
| Other | Class C Common Stock | 94,207 | $0.00 | -- |
| holding | Class C 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 C Common Stock — 153,420 shares (Indirect, Held through Silver Lake Partners V DE (AIV), L.P.);
Class C Common Stock — 1,313,489 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 June 4, 2026 and initiated in-kind distributions of shares of Class C Common Stock on June 4, 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 June 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 Silver Lake Partners V DE (AIV), L.P. The general partner of Silver Lake Partners V DE (AIV), L.P. is Silver Lake Technology Associates V, L.P. and the general partner of Silver Lake Technology Associates V, L.P. is SLTA V (GP), L.L.C. Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA V (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. Reflects shares of Class C common Stock held by SLG. Shares held include shares of Class C Common Stock received in connection with the distributions described herein on June 4, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. 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 June 4, 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, distributions of certain shares were initiated to certain employees and managing members of SLG or its affiliates, including Mr. Durban. This amount reflects 24,563, 20,747, 109,978 and 56 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates V, L.P., SLG and Silver Lake Secondary Holdings L.P., respectively, on behalf of such individuals, including shares distributed in the June 4, 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 including shares received in connection with the distributions of shares of Class C Common Stock on June 4, 2026. The 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 June 4, 2026. 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 June 4, 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 $421.4100 to $422.4000 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $422.5100 to $423.5000 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 $423.5100 to $424.5000 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 $424.5100 to $425.5026 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 $425.5100 to $426.4800 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $426.5779 to $427.5675 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 $427.5700 to $428.5600 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 $428.5800 to $429.3800 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 $429.9000 to $430.3700 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.
Key Figures
Shares sold: 37,934 shares
Restructuring shares: 94,207 shares
Sale price example: $430.11 per share
+2 more
5 metrics
Shares sold
37,934 shares
Open‑market sales of Dell Class C Common Stock on June 4, 2026
Restructuring shares
94,207 shares
Other transaction tied to in‑kind distributions among Silver Lake entities
Sale price example
$430.11 per share
One open‑market sale price for Dell Class C shares
Sale price example
$428.89 per share
Another reported Dell Class C sale price
Sale price example
$421.85 per share
Lower end of specific Dell Class C sale prices disclosed
Key Terms
Class C Common Stock, Class B Common Stock, in-kind distributions, Rule 16a-13, +1 more
5 terms
Class C Common Stock financial
"sold certain shares of Class C Common Stock, par value $0.01 per share"
A class C common stock is a type of company share that usually represents ownership but often carries limited or no voting power compared with other share classes. For investors, that matters because it can affect influence over company decisions and sometimes the stock’s price or dividend priority — think of it as owning a ticket to the same event but in a section with less say in how the event is run.
Class B Common Stock financial
"Each share of Class B Common Stock ... is convertible into one share of Class C"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
in-kind distributions financial
"sold certain shares ... and initiated in-kind distributions of shares of Class C Common Stock"
Rule 16a-13 regulatory
"receipt of such 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."
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.
FAQ
What did Silver Lake disclose in this Dell (DELL) Form 4 filing?
Silver Lake–affiliated entities disclosed Dell Class C Common Stock sales and internal distributions on June 4, 2026. They sold 37,934 shares in open‑market trades and reallocated 94,207 shares through in‑kind distributions among Silver Lake funds and related parties.
How does Rule 16a-13 apply to this Dell (DELL) Form 4 activity?
Footnotes state that receipt of Dell Class C shares through in‑kind distributions to Silver Lake entities and to Egon Durban was exempt from reporting under Rule 16a‑13. This rule can exempt certain internal transfers where beneficial ownership does not change in an economic sense.