Silver Lake funds sell small Dell (NYSE: DELL) stake at $403–$406
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Silver Lake–affiliated funds reported small open-market sales of Dell Technologies Class C Common Stock. On June 9, 2026, entities including Silver Lake Technology Investors IV, L.P. sold a total of 83 shares of Class C stock in several trades, at weighted average prices ranging from about $402.89 to $406.42 per share. The filing also notes related in-kind distributions and conversions of Class B into Class C shares among Silver Lake entities, with Silver Lake Partners V DE (AIV), L.P. holding 5,322 Class C shares directly after these transactions, while director Egon Durban and associated vehicles retain substantial direct and indirect positions reported in this and separate filings.
Positive
- None.
Negative
- None.
Insights
Silver Lake recorded very small open-market sales while retaining sizable Dell exposure.
Affiliated Silver Lake funds disclosed selling only 83 shares of Dell Technologies Class C Common Stock on June 9, 2026. These were open-market sales by Silver Lake Technology Investors IV, L.P. and related entities at prices around $403–$406 per share.
Footnotes explain simultaneous in-kind distributions and conversions of Class B into Class C shares among Silver Lake vehicles, exempt under Rule 16a-13. After these changes, Silver Lake Partners V DE (AIV), L.P. directly holds 5,322 shares, and Egon Durban and associated entities continue to report significant direct and indirect holdings.
The very small sale volume, combined with continued large positions and the administrative nature of the distributions, suggests these are routine ownership adjustments rather than a major shift in Silver Lake’s overall exposure to Dell. The filing does not reference any trading plan, so timing context is limited to the disclosed transaction date.
Insider Trade Summary
Net Seller: 83 shares ($33,588)
Net Sell
10 txns
Insider
Silver Lake Technology Investors 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
83 shs ($34K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class C Common Stock | 28 | $403.51 | $11K |
| Sale | Class C Common Stock | 22 | $404.39 | $9K |
| Sale | Class C Common Stock | 23 | $405.64 | $9K |
| Sale | Class C Common Stock | 10 | $406.30 | $4K |
| 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 | -- | -- | -- |
| holding | Class C Common Stock | -- | -- | -- |
Holdings After Transaction:
Class C Common Stock — 55 shares (Indirect, Held through Silver Lake Technology Investors IV, L.P.);
Class C Common Stock — 1,317,963 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 9, 2026 and initiated in-kind distributions of shares of Class C Common Stock on June 9, 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 9, 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 Technology Investors IV, L.P. The general partner of Silver Lake Technology Investors 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. 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 9, 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 9, 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, 24,932, 114,663 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 9, 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 9, 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 9, 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 9, 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 $402.8869 to $403.8201 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 $403.9600 to $404.9423 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 $405.1000 to $406.0000 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 $406.1500 to $406.4200 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), Silver Lake Partners IV, L.P. directly holds 0 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 5,322 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 related transactions are reported on separate Form 4 filings.
Key Figures
Shares sold: 83 shares
Sale price range (tranche 1): $402.89–$403.82 per share
Sale price range (tranche 4): $406.15–$406.42 per share
+3 more
6 metrics
Shares sold
83 shares
Total Dell Class C shares sold on June 9, 2026
Sale price range (tranche 1)
$402.89–$403.82 per share
Weighted average price range for one sale group
Sale price range (tranche 4)
$406.15–$406.42 per share
Weighted average price range for another sale group
Post-transaction holding – Silver Lake Partners V DE (AIV), L.P.
5,322 shares
Direct Class C Common Stock position after June 9, 2026
Direct holding – Egon Durban
1,317,963 shares
Class C Common Stock held directly following June 9, 2026 distributions
SLG employee-related holdings
114,663 shares
Part of shares held by SLG on behalf of individuals after distributions
Key Terms
Class C Common Stock, Class B Common Stock, Rule 16a-13, in-kind distributions, +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.
Rule 16a-13 regulatory
"receipt of shares of Class C Common Stock … was exempt from reporting pursuant to Rule 16a-13"
in-kind distributions financial
"sold certain shares … and initiated in-kind distributions of shares of Class C Common Stock"
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 its latest Dell (DELL) Form 4 filing?
Silver Lake–affiliated funds disclosed small open-market sales totaling 83 Dell Class C shares on June 9, 2026. The filing also describes related in-kind distributions and conversions between Class B and Class C shares among Silver Lake entities, updating their reported direct and indirect holdings in Dell.
What Dell (DELL) holdings are associated with Egon Durban in this Form 4 data?
Egon Durban is linked through Silver Lake Group, L.L.C. and other entities to various Dell Class C holdings and distributions. One entry shows 1,317,963 shares held directly, with additional indirect interests through family trusts and affiliated vehicles, while Durban also filed a separate Form 4 for his own transactions.