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  4. [Form 4] Dell Technologies Inc. Insider Trading Activity

Dell insider Silver Lake sells 1,075 shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Dell Technologies Inc. (DELL) reported that Silver Lake–affiliated entities, including Silver Lake Technology Investors IV, L.P., converted 1,078 shares of Class B Common Stock into the same number of Class C shares on September 9, 2026, then sold 1,075 Class C shares in multiple open-market or private transactions. All sales were made indirectly through Silver Lake Technology Investors IV, L.P., and no Rule 10b5-1 trading plan is reported.

After these transactions, Silver Lake–related entities continued to hold large indirect positions in Class B and Class C shares, while director Egon Durban held 1,397,035 Class C shares directly plus additional indirect interests through various entities and a family trust.

Positive

  • None.

Negative

  • None.
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 Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director
Sold 1,075 shs ($581K)
Approx. gross sale proceeds $581K
Type Security Shares Price Value
Exercise Class B Common Stock F2, F1, F3, F4 1,078 $0.00 $0.00
Exercise Class C Common Stock F1, F2, F3, F4 1,078 -- --
Sale Class C Common Stock F10, F3, F4 5 $534.09 $3K
Sale Class C Common Stock F11, F3, F4 174 $535.13 $93K
Sale Class C Common Stock F12, F3, F4 149 $535.97 $80K
Sale Class C Common Stock F13, F3, F4 110 $536.89 $59K
Sale Class C Common Stock F14, F3, F4 48 $538.03 $26K
Sale Class C Common Stock F15, F3, F4 15 $538.63 $8K
Sale Class C Common Stock F16, F3, F4 53 $540.56 $29K
Sale Class C Common Stock F17, F3, F4 28 $541.33 $15K
Sale Class C Common Stock F18, F3, F4 97 $542.47 $53K
Sale Class C Common Stock F19, F3, F4 75 $543.50 $41K
Sale Class C Common Stock F20, F3, F4 156 $544.42 $85K
Sale Class C Common Stock F21, F3, F4 67 $545.40 $37K
Sale Class C Common Stock F22, F3, F4 49 $546.53 $27K
Sale Class C Common Stock F23, F3, F4 29 $547.31 $16K
Sale Class C Common Stock F24, F3, F4 11 $548.78 $6K
Sale Class C Common Stock F25, F3, F4 3 $549.74 $2K
Sale Class C Common Stock F26, F3, F4 6 $550.71 $3K
holding Class B Common Stock F2, F28 -- -- --
holding Class C Common Stock F4, F5 -- -- --
holding Class C Common Stock F6 -- -- --
holding Class C Common Stock F7 -- -- --
holding Class C Common Stock F8 -- -- --
holding Class C Common Stock F9 -- -- --
holding Class C Common Stock F27 -- -- --
Holdings After Transaction: Class B Common Stock — 246,373 contracts (Indirect, Held through Silver Lake Technology Investors IV, L.P.); Class C Common Stock — 0 shares (Indirect, Held through Silver Lake Technology Investors IV, L.P.); Class B Common Stock — 42,232,027 contracts (Indirect, See footnote); Class C Common Stock — 2,562 shares (Indirect, Held through Silver Lake Group, L.L.C.); Class C Common Stock — 380,918 shares (Indirect, See footnote); Class C Common Stock — 1,397,035 shares (Direct)
Footnotes (28)
  1. F1. 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 September 9, 2026.
  2. F2. 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 September 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 described in footnote (1) above.
  3. F3. 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.
  4. F4. 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 the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer.
  5. F5. Represents shares of Class C Common Stock held directly by SLG.
  6. F6. Represents shares of Class C Common Stock held by entities in which Mr. Egon Durban may be deemed to have an indirect pecuniary interest.
  7. F7. This amount reflects 38,913, 123,469, 33,939 and 18,311 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P. and SLG, respectively, on behalf of certain employees and managing members of SLG or its affiliates.
  8. F8. Represents shares of Class C Common Stock held directly by Mr. Durban.
  9. F9. Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.
  10. F10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.4301 to $534.4162 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.
  11. F11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $534.4320 to $535.4300 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.
  12. F12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $535.4590 to $536.4549 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.
  13. F13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.4600 to $537.4450 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.
  14. F14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $537.4642 to $538.4300 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. F15. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $538.4360 to $538.8850 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. F16. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $539.8860 to $540.8854 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. F17. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $540.9289 to $541.9097 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.
  18. F18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $541.9512 to $542.9400 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.
  19. F19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $542.9600 to $543.9473 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.
  20. F20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $543.9600 to $544.9552 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.
  21. F21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $544.9700 to $545.9444 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.
  22. F22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $545.9700 to $546.9470 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.
  23. F23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $547.0000 to $547.8400 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.
  24. F24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $548.0000 to $548.8700 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.
  25. F25. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $549.5090 to $549.9400 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.
  26. F26. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $550.4100 to $551.0000 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.
  27. F27. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 47,386 shares of Class C Common Stock, Silver Lake Partners IV, L.P. directly holds 41,849 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 24,488 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.
  28. F28. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,311,902 shares of Class B Common Stock, Silver Lake Partners IV, L.P. directly holds 16,744,985 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,064,039 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 111,101 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
Class B shares converted 1,078 shares Class B Common Stock converted into Class C on September 9, 2026
Class C shares sold 1,075 shares Net shares sold in multiple transactions on September 9, 2026
Sale price range $533.4301–$551.0000 per share Weighted-average price ranges across reported Class C sales
Indirect Class B position 42,232,027 shares Class B shares indirectly held, each convertible into one Class C share
Director direct Class C holdings 1,397,035 shares Class C Common Stock held directly by Egon Durban
Class C held via Silver Lake Group, L.L.C. 2,562 shares Direct Class C holdings of Silver Lake Group, L.L.C.
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.
pecuniary interest financial
"each Reporting Person disclaims beneficial ownership...pecuniary interest therein"
director by deputization regulatory
"Each of the Reporting Persons may be deemed a director by deputization"
beneficial ownership regulatory
"disclaims beneficial ownership of these securities, except to the extent"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Rule 10b5-1 regulatory
"No Rule 10b5-1 trading plan is reported for these transactions"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider activity in DELL stock did Silver Lake entities report on September 9, 2026?
Silver Lake–affiliated entities converted 1,078 Class B Dell shares into Class C, then sold 1,075 Class C shares in multiple open-market or private transactions on September 9, 2026, all held indirectly through Silver Lake Technology Investors IV, L.P.

At what prices were the 1,075 Dell (DELL) Class C shares sold by Silver Lake affiliates?
The 1,075 Class C shares of Dell were sold in numerous trades at weighted-average prices, with transaction price ranges spanning from about $533.43 to $551.00 per share, as detailed across multiple weighted-average price footnotes.

How many Dell (DELL) Class B shares linked to Class C stock remain held by Silver Lake affiliates?
A Silver Lake–affiliated entity continues to hold 42,232,027 shares of Class B Common Stock, each convertible into one share of Class C Common Stock, on an indirect basis following the reported transactions.

What are Egon Durban’s reported Dell (DELL) Class C holdings after these transactions?
Director Egon Durban is reported as holding 1,397,035 shares of Class C Common Stock directly, plus additional indirect beneficial interests through entities and a family trust, according to the holding entries and related footnotes.

Were the September 9, 2026 Dell (DELL) insider transactions under a Rule 10b5-1 plan?
No. The filing indicates that no Rule 10b5-1 trading plan applies to the reported Dell insider transactions on September 9, 2026.

Through which entity were the Dell (DELL) sales executed by the Silver Lake reporting persons?
The sales of Dell Class C shares were executed indirectly through Silver Lake Technology Investors IV, L.P., which directly held the sold shares; other Silver Lake entities are involved as its general partners and managing members.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →
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SEC Form 4
FORM 4UNITED 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*
Silver Lake Technology Investors IV, L.P.
(Last)(First)(Middle)
C/O SILVER LAKE
2775 SAND HILL ROAD, SUITE 100
(Street)
MENLO PARK CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Dell Technologies Inc. [ DELL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/09/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Class C Common Stock09/09/2026M(1)(2)1,078A(1)(2)1,078IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S5D$534.09(10)1,073IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S174D$535.13(11)899IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S149D$535.97(12)750IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S110D$536.89(13)640IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S48D$538.03(14)591IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S15D$538.63(15)576IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S53D$540.56(16)523IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S28D$541.33(17)494IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S97D$542.47(18)398IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S75D$543.5(19)322IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S156D$544.42(20)166IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S67D$545.4(21)99IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S49D$546.53(22)50IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S29D$547.31(23)21IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S11D$548.78(24)9IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S3D$549.74(25)6IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock09/09/2026S6D$550.71(26)0IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class C Common Stock2,562IHeld through Silver Lake Group, L.L.C.(4)(5)
Class C Common Stock1,390ISee footnote(6)
Class C Common Stock214,632ISee footnote(7)
Class C Common Stock1,397,035D(8)
Class C Common Stock51,173ISee footnote(9)
Class C Common Stock113,723ISee footnote(27)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Class B Common Stock(2)09/09/2026M(1)(2)1,078 (2) (2)Class C Common Stock1,078$0246,373IHeld through Silver Lake Technology Investors IV, L.P.(3)(4)
Class B Common Stock(2) (2) (2)Class C Common Stock42,232,02742,232,027ISee footnote(28)
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 CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% 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 CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
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 CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% 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 CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% 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 CALIFORNIA 94025
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirector10% Owner
Officer (give title below)Other (specify below)
Explanation of Responses:
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 September 9, 2026.
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 September 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 described in footnote (1) above.
3. 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.
4. 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 the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer.
5. Represents shares of Class C Common Stock held directly by SLG.
6. Represents shares of Class C Common Stock held by entities in which Mr. Egon Durban may be deemed to have an indirect pecuniary interest.
7. This amount reflects 38,913, 123,469, 33,939 and 18,311 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P. and SLG, respectively, on behalf of certain employees and managing members of SLG or its affiliates.
8. Represents shares of Class C Common Stock held directly by Mr. Durban.
9. Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.
10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.4301 to $534.4162 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.
11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $534.4320 to $535.4300 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.
12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $535.4590 to $536.4549 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.
13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.4600 to $537.4450 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.
14. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $537.4642 to $538.4300 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 $538.4360 to $538.8850 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 $539.8860 to $540.8854 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 $540.9289 to $541.9097 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.
18. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $541.9512 to $542.9400 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.
19. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $542.9600 to $543.9473 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.
20. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $543.9600 to $544.9552 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.
21. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $544.9700 to $545.9444 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.
22. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $545.9700 to $546.9470 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.
23. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $547.0000 to $547.8400 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.
24. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $548.0000 to $548.8700 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.
25. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $549.5090 to $549.9400 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.
26. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $550.4100 to $551.0000 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.
27. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 47,386 shares of Class C Common Stock, Silver Lake Partners IV, L.P. directly holds 41,849 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 24,488 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.
28. Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,311,902 shares of Class B Common Stock, Silver Lake Partners IV, L.P. directly holds 16,744,985 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,064,039 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 111,101 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
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. Due to certain reporting restrictions including that no more than 30 transactions can be listed on each Table of the Form 4 filing and 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 reporting additional transactions.
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C., gen. partner of Silver Lake Technology Associates IV, L.P., gen. partner of Silver Lake Technology Investors IV, L.P.09/11/2026
By: /s/ Justin G. Hamill, 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.09/11/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C.09/11/2026
By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C.09/11/2026
By: /s/ Justin G. Hamill, Attorney-in-fact for Egon Durban09/11/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

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