Dell Technologies SEC Filings

Form 144 filing for Dell Technologies Inc. (DELL) discloses a planned sale of 127,897 Class C common shares by a shareholder using broker Merrill Lynch, Pierce, Fenner & Smith Inc. on or about 10 July 2025. At the filing’s reference price, the block is valued at $16.2 million, equivalent to roughly 0.04 % of Dell’s 339.7 million shares outstanding.

The seller—identified in the past-sales section as multiple Silver Lake–affiliated funds—has already disposed of substantial stock during the previous three months. The filing lists about 1.94 million shares of Class C stock sold between 9 June and 26 June 2025, generating gross proceeds of roughly $224 million. The new notice therefore represents an incremental continuation of Silver Lake’s exit strategy but remains immaterial to Dell’s total float.

Key details

• Shares to be sold: 127,897
• Aggregate market value: $16,195,597.11
• % of shares outstanding: ~0.04 %
• Broker: Merrill Lynch (San Francisco)
• Approximate sale date: 10 July 2025 (NYSE)

From a capital-markets perspective, the filing signals continued supply from a long-standing private-equity holder, yet the block size is unlikely to move Dell’s share price materially on its own. Investors may nevertheless monitor Silver Lake’s future filings to gauge the cadence of divestitures and potential overhang pressure.

Form 144 filing summary for Dell Technologies Inc. (DELL)

This Form 144 notifies the SEC of a proposed sale of 4,722 Class C common shares by Silver Lake-affiliated entities on or about 07/10/2025. The shares will be sold through Merrill Lynch, Pierce, Fenner & Smith Inc. on the NYSE at an aggregate market value of $597,946.86. With 339,719,010 shares outstanding, the prospective sale represents less than 0.002 % of Dell’s public float.

Background on the securities

• The 4,722 shares were obtained via conversion of Class B common stock originally acquired in 2016; the conversion and acquisition date is recorded as 07/10/2025.
• The filer certifies under Rule 144 that it is not aware of undisclosed material adverse information regarding Dell.

Recent disposition activity

The form also lists multiple prior sales by various Silver Lake funds between 06/09/2025 – 06/26/2025. Individual line items indicate disposals exceeding $170 million in gross proceeds and well over one million shares of Class C stock during that three-week window.

Investor considerations

• The immediate 4,722-share sale is immaterial to Dell’s share count and typical daily trading volume.
• However, the scale of recent aggregate sales suggests an ongoing exit strategy by a significant long-term shareholder (Silver Lake), which could create periodic supply and modest share-price headwinds.
• No operational or earnings information is provided in this filing; implications relate solely to shareholder composition and potential stock overhang.

Dell Technologies Inc. (NYSE: DELL) – Form 144 filing

Silver Lake–affiliated entities have filed a Form 144 to sell 2,130 Class C common shares through Merrill Lynch on 10 July 2025. The shares—valued at $269,721.90—represent approximately 0.0006 % of Dell’s 339,719,010 outstanding Class C shares and were obtained the same day via conversion of previously-held Class B stock (originally acquired in 2019).

The filing also discloses past 3-month sales by various Silver Lake funds totaling roughly 1.94 million Class C shares across multiple dates in June 2025, with individual transactions ranging from a few dozen shares to more than 257 k shares. Gross proceeds for each sale are listed, indicating aggregate cash realizations comfortably in the hundreds of millions of dollars.

Form 144 filings signal an intent to sell restricted or control securities; actual sales may differ from the notice. Nonetheless, continued reductions by a long-time private-equity sponsor can create supply overhang concerns for public investors, although Dell’s large float limits the immediate mechanical impact of the 2,130-share notice.

Amendment No. 2 to Schedule 13D filed on July 1, 2025 discloses that A/NPP Diversified Holdings LLC, Advance/Newhouse Partnership, Advance Publications, Inc. and Newhouse Broadcasting Corp. (collectively, the “Reporting Persons”) have sold 100,000,000 shares of Warner Bros. Discovery, Inc. (WBD) Series A common stock in a block trade executed on June 30, 2025 at a net price of $10.97 per share. The disposition comprised 14,158,459 shares held by Advance/Newhouse Partnership and 85,841,541 shares held by A/NPP Diversified.

Following the transaction, the Reporting Persons now beneficially own 98,181,749 shares, all held by A/NPP Diversified, representing 3.97 % of WBD’s 2,474,075,003 outstanding Series A shares (as of April 25, 2025). Because their ownership has fallen below the 5 % threshold, they have ceased to be “5 % beneficial owners” under SEC rules.

The sale is described as providing “financial flexibility to support ongoing estate planning, the investment program, and other general corporate purposes.” The Reporting Persons retain sole voting and dispositive power over their remaining stake; no shared powers are reported. An internal reorganisation on December 30, 2024 transferred 184,023,290 shares to A/NPP Diversified, consolidating ownership prior to the sale.

No criminal or civil proceedings involving the Reporting Persons are disclosed, and a Joint Filing Agreement (Exhibit 99.1) accompanies the filing.

Nuveen Funds definitive proxy (Schedule 14A) dated June 30, 2025 covers 14 closed-end municipal funds, including Nuveen Taxable Municipal Income Fund (NBB) and its sister portfolios. The document notifies shareholders of virtual annual meetings on August 14, 2025 at 2:00 p.m. CT, accessible via live webcast at www.meetnow.global/MNRRJJC. Shareholders of record as of June 20, 2025 may vote electronically during the webcast or in advance by mail, telephone or internet using the control number on their proxy card.

Key agenda item: election of Board Members. Elections vary by fund:

• Municipal Income (NMI) – four Class III directors.
• AMT-Free Value (NUW), Municipal Value (NUV), New York Value (NNY), Select Maturities (NIM) and Taxable Income (NBB) – four Class I directors.
• Eight leveraged funds (e.g., NVG, NEA, NDMO, NZF) – three Class I directors (Common & Preferred voting together) plus two directors elected solely by Preferred shareholders.

Outstanding shares on the record date illustrate the relative size of each fund (e.g., NVG 213.5 m common shares; NEA 299.0 m; NBB 29.4 m). Multiple series of VRDP, MFP and AMTP preferred shares remain outstanding across eight funds, and NYSE Rule 452 proportionate voting may apply to certain series in remarketing mode.

All nominees are independent under the 1940 Act and none are affiliated with Nuveen or TIAA. Governance remains on a unitary-board model covering 217 portfolios, supported by seven standing committees (Audit, Investment, Compliance, Closed-End Fund, etc.).

Director compensation is increasing effective January 1 2025: base retainer stays at US $350,000 but committee retainers rise to US $35,000 (Audit/Compliance) and US $30,000–$25,000 elsewhere; the Board Chair retainer rises to US $150,000. Meeting fees of US $1,000–2,500 continue, and directors may defer compensation into Nuveen funds.

Management recommends shareholders vote “FOR” each nominee. No other substantive business or financial performance data is presented.

Netcapital Inc. (Nasdaq: NCPL) filed an 8-K reporting that on 26 June 2025 it entered into a Horizon Software Agreement with Switzerland-based Horizon Globex GmbH. Horizon granted Netcapital a royalty-free, paid-up, non-exclusive, perpetual and irrevocable license to use Horizon’s capital-raising and secondary-trading software under the Company’s own branding in the United States.

As consideration, Netcapital will issue 500,0000 shares of its common stock (the “Horizon Shares”) to Horizon or its affiliate. The shares will be issued without registration under Sections 4(a)(2) and/or 3(a)(9) of the Securities Act, and no cash will be received by the Company.

The agreement includes standard termination rights: (i) either party may terminate after a 30-day cure period for material breach, and (ii) immediate termination is permitted upon bankruptcy, receivership, dissolution, or cessation of business of the other party. The full contract is attached as Exhibit 10.1.

This transaction gives Netcapital long-term access to a trading technology platform that could expand its service offering, but it also introduces equity dilution and execution risk should the software fail to drive revenue growth.

Form 144 highlights for Twilio Inc. (TWLO):

• An affiliated holder, identified as Khozema Shipchandler, has filed to sell 7,000 common shares through Charles Schwab & Co. on or about 30 June 2025.
• The proposed sale represents a market value of $872,011 versus 152.7 million shares outstanding, or roughly 0.005% of shares outstanding.
• The shares were acquired via equity-compensation restricted-stock lapses on 5 June 2020 (1,956 shares) and 31 Dec 2023 (5,044 shares).
• Recent insider activity: the same seller disposed of 12,056 shares on 31 Mar 2025 for $1.16 million and 14,545 shares on 3 Apr 2025 for $1.33 million.
• No adverse information about Twilio’s operations is disclosed; the filer attests to possessing no non-public material adverse data.

The filing is a compliance notice rather than a corporate action and does not change Twilio’s fundamentals, but sustained insider selling can influence investor sentiment.

Dell Technologies (NYSE:DELL) filed a Form 4 disclosing that Michael S. Dell—CEO, Chair, Director and >10% owner—sold 10,000,000 Class C shares on 06/26/2025 at $122.27 per share, generating proceeds of roughly $1.22 billion.

Following the transaction, Dell directly owns 25,912,241 shares and indirectly holds 1,380,000 shares via the Susan Lieberman Dell Separate Property Trust. The sale represents nearly 28% of his previously direct-held position and was coded “S” (open-market sale); no 10b5-1 plan was flagged.

Key points:

• Largest single-day insider sale by Dell since the 2018 return to the public market.
• No corresponding purchase or option exercise reported.
• Form filed by one reporting person, electronically signed on 06/27/2025.

Michael Dell, CEO of Dell Technologies, Plans Major Stock Sale

Dell Technologies CEO Michael Dell has filed Form 144 indicating his intention to sell 10 million shares of Class C stock through Merrill Lynch, with an aggregate market value of $1.22 billion. The planned sale represents approximately 2.9% of total outstanding Class C shares (339.7 million shares).

The securities were originally acquired on September 7, 2016 as consideration during a merger/acquisition transaction. The proposed sale is scheduled for June 26, 2025 on the NYSE. Mr. Dell has confirmed through his signature that he has no knowledge of undisclosed material adverse information regarding Dell Technologies' operations.

Notable details:

• No other securities sales reported by Mr. Dell in the past 3 months
• Transaction represents significant insider sale by company founder
• Sale to be executed through Merrill Lynch's New York office