Silver Lake (NYSE: DELL) details Dell Class C share sales, conversions

Rhea-AI Filing Summary

Silver Lake Group and affiliated funds filed Amendment No. 14 to their Schedule 13D on Dell Technologies Inc., updating their ownership of Class C Common Stock. As of June 3, 2026, they may be deemed to beneficially own 46,485,717 Class C shares, about 7.2% of Dell’s total common stock.

Because of Dell’s multi-class structure, these Class C shares represent roughly 13.0% of the combined voting power of the issuer’s common stock. The filing notes 649,568,287 total common shares outstanding in aggregate and 326,567,032 Class C shares outstanding as of June 3, 2026.

Over the 60 days ending June 3, 2026, certain Silver Lake entities converted 2,679,340 Class B shares into Class C shares, sold an aggregate 2,148,664 Class C shares, and distributed additional Class C shares to their equity holders. Class B shares are convertible into Class C on a one-for-one basis at any time.

Insights

Equity ownership & governance analyst

Silver Lake updates a sizable but minority stake in Dell with recent sales and conversions.

The filing shows Silver Lake Group, L.L.C. and related funds beneficially owning 46,485,717 Dell Class C shares as of June 3, 2026, equal to about 7.2% of total common shares. Due to Dell’s multi-class structure, this stake carries about 13.0% of combined voting power.

Silver Lake entities converted 2,679,340 Class B shares into Class C shares and sold 2,148,664 Class C shares over the prior 60 days, alongside several smaller equityholder distributions. These moves reshape the mix between super-voting and single-vote stock while maintaining a meaningful governance position.

Future ownership disclosures in company reports and beneficial ownership filings will clarify how Silver Lake’s stake evolves, particularly if further Class B to Class C conversions or additional sales alter their percentage of Dell’s voting power.

Key Figures

Class C shares beneficially owned: 46,485,717 shares Ownership of total common stock: 7.2% Combined voting power: 13.0% +5 more

8 metrics

Class C shares beneficially owned 46,485,717 shares Dell Class C Common Stock beneficially owned as of June 3, 2026

Ownership of total common stock 7.2% Portion of Dell total outstanding common stock as of June 3, 2026

Combined voting power 13.0% Voting power represented by Silver Lake’s holdings as of June 3, 2026

Class B shares beneficially owned 46,256,914 shares Dell Class B Common Stock held, convertible 1:1 into Class C

Recent Class B to C conversions 2,679,340 shares Class B shares converted into Class C over 60 days ending June 3, 2026

Recent Class C shares sold 2,148,664 shares Aggregate Class C sales on specified dates in April and June 2026

Total common shares outstanding 649,568,287 shares Dell total common stock outstanding in aggregate as of June 3, 2026

Class C shares outstanding 326,567,032 shares Dell Class C Common Stock outstanding as of June 3, 2026

Key Terms

Schedule 13D, beneficially own, Class B Common Stock, combined voting power, +2 more

6 terms

Schedule 13D regulatory

"This Amendment No. 14 (the Amendment No. 14), being filed by SL SPV-2, L.P. ... amends the initially filed on February 19, 2019"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially own financial

"As of June 3, 2026, the Reporting Persons may be deemed to beneficially own an aggregate of 46,485,717 shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

Class B Common Stock financial

"an aggregate of 46,256,914 shares of the Issuer's Class B Common Stock held by the Reporting Persons"

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.

combined voting power financial

"the 46,485,717 shares of Class C Common Stock beneficially owned in the aggregate by the Reporting Persons is entitled to approximately 13.0% of the combined voting power"

amended and restated certificate of incorporation regulatory

"Subject to the terms of the Issuer's amended and restated certificate of incorporation, each holder of record of: (1) Class A Common Stock is entitled to 10 votes per share"

A company’s amended and restated certificate of incorporation is an updated version of its foundational legal charter that replaces the older document and folds in all changes into one clear copy; it spells out corporate structure, classes of stock, shareholder rights and key governance rules. Investors care because it can change who controls the company, how votes are counted, what claims shareholders have on assets or dividends, and can introduce or remove protections against takeovers—like updating a house title after a major renovation to show who owns what and under what rules.

Rule 13d-3 of the Exchange Act regulatory

"representing approximately 12.5% of the issued and outstanding shares of the Issuer's Class C Common Stock calculated on the basis of Rule 13d-3 of the Exchange Act"

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 14)

Dell Technologies Inc.

(Name of Issuer)

Class C Common Stock, par value $0.01 per share

(Title of Class of Securities)

24703L202

(CUSIP Number)

Justin G. Hamill, Esq
c/o Silver Lake 55 Hudson Yards, 550 West 34th Street, 40th Floor
New York, NY, 10001
212-981-5600

Kenneth B. Wallach, Esq.
Simpson Thacher & Bartlett LLP, 425 Lexington Avenue
New York, NY, 10017
212-455-2000

Hui Lin, Esq.
Simpson Thacher & Bartlett LLP, 425 Lexington Avenue
New York, NY, 10017
212-455-2000

Jessica Asrat, Esq
Simpson Thacher & Bartlett LLP, 425 Lexington Avenue
New York, NY, 10017
212-455-2000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/03/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

SL SPV-2, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 17,762,868.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 17,762,868.00

11

Aggregate amount beneficially owned by each reporting person

17,762,868.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.2 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

SLTA SPV-2, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 17,787,431.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 17,762,868.00

11

Aggregate amount beneficially owned by each reporting person

17,787,431.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

SLTA SPV-2 (GP), L.L.C.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 17,787,431.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 17,762,868.00

11

Aggregate amount beneficially owned by each reporting person

17,787,431.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.4 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

Silver Lake Partners IV, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 18,234,475.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 18,234,475.00

11

Aggregate amount beneficially owned by each reporting person

18,234,475.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.3 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

Silver Lake Technology Investors IV, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 268,289.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 268,289.00

11

Aggregate amount beneficially owned by each reporting person

268,289.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

The above beneficial ownership reflects less than 0.1% of the outstanding shares of Class C Common Stock outstanding. See Item 5.

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

Silver Lake Technology Associates IV, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 18,502,764.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 18,502,764.00

11

Aggregate amount beneficially owned by each reporting person

18,502,764.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.7 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

SLTA IV (GP), L.L.C.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 18,502,764.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 18,502,764.00

11

Aggregate amount beneficially owned by each reporting person

18,502,764.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.7 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

Silver Lake Partners V DE (AIV), L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 9,964,506.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 9,964,506.00

11

Aggregate amount beneficially owned by each reporting person

9,964,506.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.0 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

Silver Lake Technology Investors V, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 120,983.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 120,983.00

11

Aggregate amount beneficially owned by each reporting person

120,983.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

The above beneficial ownership reflects less than 0.1% of the outstanding shares of Class C Common Stock outstanding. See Item 5.

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

Silver Lake Technology Associates V, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 10,100,274.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 10,085,489.00

11

Aggregate amount beneficially owned by each reporting person

10,100,274.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.1 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

SLTA V (GP), L.L.C.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 10,100,274.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 10,085,489.00

11

Aggregate amount beneficially owned by each reporting person

10,100,274.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.1 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 24703L202

1

Name of reporting person

Silver Lake Group, L.L.C.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 46,485,717.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 46,261,805.00

11

Aggregate amount beneficially owned by each reporting person

46,485,717.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

12.5 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class C Common Stock, par value $0.01 per share
(b)	Name of Issuer: Dell Technologies Inc.
(c)	Address of Issuer's Principal Executive Offices: One Dell Way, Round Rock, TEXAS , 78682.
Item 1 Comment: This Amendment No. 14 (the Amendment No. 14), being filed by SL SPV-2, L.P. (SPV-2), SLTA SPV-2, L.P. (SLTA GP), SLTA SPV-2 (GP), L.L.C. (SLTA SPV GP), Silver Lake Partners IV, L.P. (SLP IV), Silver Lake Technology Investors IV, L.P. (SLTI IV), Silver Lake Technology Associates IV, L.P. (SLTA IV), SLTA IV (GP), L.L.C. (SLTA IV GP), Silver Lake Partners V DE (AIV), L.P. (SLP V), Silver Lake Technology Investors V, L.P. (SLTI V), Silver Lake Technology Associates V, L.P. (SLTA V), SLTA V (GP), L.L.C. (SLTA V GP), and Silver Lake Group, L.L.C. (SLG, and collectively, the Reporting Persons) amends the Schedule 13D initially filed on February 19, 2019, as amended by Amendment No. 1 filed on July 2, 2019, Amendment No. 2 filed on January 2, 2020, Amendment No. 3 filed on July 1, 2021, Amendment No. 4 filed on July 13, 2023, Amendment No. 5 filed on January 18, 2024, Amendment No. 6 filed on March 6, 2024, Amendment No. 7 filed on March 22, 2024, Amendment No. 8 filed on June 5, 2024, Amendment No. 9 filed on July 10, 2024, Amendment No. 10 filed on January 13, 2025, Amendment No. 11 filed on July 17, 2025, Amendment No. 12 filed on October 3, 2025 and Amendment No. 13 filed on March 19, 2026 (as amended, the Schedule 13D). The Items below amend the information disclosed under the corresponding Items of the Schedule 13D as described below. Except as specifically provided herein, this Amendment No. 14 does not modify any of the information previously reported in the Schedule 13D. Capitalized terms used herein and not otherwise defined have the meanings ascribed to them in the Schedule 13D. Unless otherwise set forth herein, the beneficial ownership information set forth in this Schedule 13D is as of market close on June 3, 2026.
Item 2.	Identity and Background
(a)	Item 2(a) of the Schedule 13D is hereby amended and supplemented as follows: The information set forth in the amended and restated Annex A attached hereto as Exhibit 99.2 is incorporated herein by reference in this amended Item 2.
Item 5.	Interest in Securities of the Issuer
(a)	Items 5(a) - (c) of the Schedule 13D are hereby amended and restated as follows: The information contained in rows 7, 8, 9, 10, 11 and 13 on each of the cover pages of this Schedule 13D and the information set forth or incorporated in Item 2 is incorporated by reference in its entirety into this Item 5. As of June 3, 2026, the Reporting Persons may be deemed to beneficially own an aggregate of 46,485,717 shares of the Issuer's Class C Common Stock, which constitutes approximately 7.2% of the total outstanding common stock of the Issuer, based on 649,568,287 shares of common stock outstanding in the aggregate as of June 3, 2026. Subject to the terms of the Issuer's amended and restated certificate of incorporation, each holder of record of: (1) Class A Common Stock is entitled to 10 votes per share of Class A Common Stock; (2) Class B Common Stock is entitled to 10 votes per share of Class B Common Stock; (3) Class C Common Stock is entitled to one vote per share of Class C Common Stock; and (4) Class D Common Stock is not entitled to any vote on any matter except to the extent required by provisions of Delaware law (in which case such holder is entitled to one vote per share of Class D Common Stock), in the case of each of (1) through (4), which is outstanding in such holder's name on the books of the Issuer and which is entitled to vote. The board of directors of the Issuer has a class consisting of the Group I Directors and a class consisting of the Group IV Directors (each as defined in the Issuer's certificate of incorporation, as amended). The holders of shares of all series of common stock outstanding will vote as one class with respect to the election of all Group I Directors and the holders of Class C Common Stock will vote separately as a series with respect to the election of the Group IV Director. Except as may otherwise be provided in the Issuer's certificate of incorporation, as amended, or as may otherwise be required by Delaware law, with respect to all other matters to be voted on by stockholders of the Issuer, the holders of shares of all series of common stock outstanding will vote as one class. As a result of the above, the 46,485,717 shares of Class C Common Stock beneficially owned in the aggregate by the Reporting Persons is entitled to approximately 13.0% of the combined voting power of the common stock of the Issuer, based on 649,568,287 shares of common stock outstanding in the aggregate, including 276,744,341 shares of Class A Common Stock, 46,256,914 shares of Class B Common Stock (reduced by the Class C conversions disclosed below) and 326,567,032 shares of Class C Common Stock outstanding, calculated as follows: 325,034,188 shares of Class C Common Stock outstanding as of April 27, 2026, as set forth in the Issuer's Proxy Statement, filed with the SEC on May 15, 2026, plus the additional 757,538, 542,210 and 233,096 shares of Class C Common Stock issued upon the conversion by the Reporting Persons of an equal number of shares of Class B Common Stock on June 1, 2026, June 2, 2026 and June 3, 2026, respectively, in connection with the transactions described in this Schedule 13D and as described further in Exhibit 99.3 attached hereto and assuming conversion of all outstanding shares of Class B Common Stock which may be deemed to be beneficially owned by the Reporting Persons into shares of Class C Common Stock. As of June 3, 2026, the Reporting Persons may be deemed to beneficially own an aggregate of 46,485,717 shares of the Issuer's Class C Common Stock, including 129,705 shares of the Issuer's Class C Common Stock held by the Reporting Persons on behalf of certain of their employees and certain managing members of SLG over which the Reporting Persons may be deemed to have voting power but no dispositive power, and an aggregate of 46,256,914 shares of the Issuer's Class B Common Stock held by the Reporting Persons, which are convertible into shares of Class C Common Stock on a one-for-one basis at any time at the holder's election, representing approximately 12.5% of the issued and outstanding shares of the Issuer's Class C Common Stock calculated on the basis of Rule 13d-3 of the Exchange Act. The percentages of beneficial ownership in this Schedule 13D are based on 326,567,032 shares of Class C Common Stock outstanding as of June 3, 2026 calculated as set forth in the above paragraph and assumes the conversion of all outstanding shares of Class B Common Stock which may be deemed to be beneficially owned by the Reporting Persons into shares of Class C Common Stock. Information with respect to the beneficial ownership of Class C Common Stock by the individuals listed in Annex 2 attached hereto as Exhibit 99.2 is incorporated herein by reference in response to this Item 5. The references to and description of the Issuer's amended and restated certificate of incorporation set forth above is not intended to be complete and is qualified in its entirety by reference to the full text of such certificate, which is filed as Exhibit 3.1 to the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 29, 2022.
(b)	See Item 5(a) above.
(c)	Except as set forth in this Schedule 13D, including Exhibit 99.3 and in Annex A attached hereto as Exhibit 99.2, none of the Reporting Persons, or, to the best knowledge of the Reporting Persons, any other person listed in Annex A, have effected any transaction in Class C Common Stock during the prior 60 day period ending June 3, 2026. During the 60 day period ending June 3, 2026, certain of the Reporting Persons converted an aggregate of 2,679,340 shares of Class B Common Stock into Class C Common Stock. During the 60 day period ending June 3, 2026, (i) on April 15, 2026, April 16, 2026, June 1, 2026, June 2, 2026 and June 3, 2026, certain of the Reporting Persons sold an aggregate of 2,148,664 shares of Class C Common Stock, (ii) on April 16, 2026, certain of the Reporting Persons initiated distributions of an aggregate of 312,832 shares of Class C Common Stock to certain of their respective direct and indirect equity holders, with SL SPV-2, L.P. distributing 139,157 shares, SLP IV distributing 106,790 shares and SLP V distributing 66,885 shares, (iii) on June 1, 2026, certain of the Reporting Persons initiated distributions of an aggregate of 60,496 shares of Class C Common Stock to certain of their respective direct and indirect equity holders, with SL SPV-2, L.P. distributing 36,659 shares and SLP IV distributing 24,287 shares, (iv) on June 2, 2026, certain of the Reporting Persons initiated distributions of an aggregate of 43,896 shares of Class C Common Stock to certain of their respective direct and indirect equity holders, with SL SPV-2, L.P. distributing 26,232 shares and SLP IV distributing 17,664 shares and (v) on June 3, 2026, certain of the Reporting Persons initiated distributions of an aggregate of 18,795 shares of Class C Common Stock to certain of their respective direct and indirect equity holders, with SL SPV-2, L.P. distributing 11,274 shares and SLP IV distributing 7,521 shares. The shares of Class C Common Stock described in clauses (i) through (v) above were received upon conversion on April 15, 2026, April 16, 2026, June 1, 2026, June 2, 2026 and June 3, 2026 of an equal number of shares of Class B Common Stock held by such Reporting Persons. The Class B Common Stock is convertible into an equal number of shares of Class C Common Stock, at any time.
Item 7.	Material to be Filed as Exhibits.
	Exhibit No. Description 99.1 Signature Pages 99.2 Annex A Managing Members of Silver Lake Group, L.L.C. 99.3 Annex B Sales of Class C Common Stock by Reporting Persons during the prior 60 days

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SL SPV-2, L.P.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

SLTA SPV-2, L.P.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

SLTA SPV-2 (GP), L.L.C.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

Silver Lake Partners IV, L.P.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

Silver Lake Technology Investors IV, L.P.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

Silver Lake Technology Associates IV, L.P.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

SLTA IV (GP), L.L.C.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

Silver Lake Partners V DE (AIV), L.P.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

Silver Lake Technology Investors V, L.P.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

Silver Lake Technology Associates V, L.P.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

SLTA V (GP), L.L.C.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

Silver Lake Group, L.L.C.

Signature:	/s/ Justin G. Hamill
Name/Title:	Justin G. Hamill, Managing Director and Chief Legal Officer of Silver Lake Group, L.L.C., See Exhibit 99.1
Date:	06/05/2026

FAQ

How many Dell (DELL) Class C shares does Silver Lake beneficially own in this Schedule 13D/A?

Silver Lake and its affiliated funds may be deemed to beneficially own 46,485,717 shares of Dell’s Class C Common Stock as of June 3, 2026. This figure reflects holdings across multiple Silver Lake entities reported together as the Reporting Persons.

What percentage of Dell (DELL) stock and voting power does Silver Lake hold?

Silver Lake’s 46,485,717 Dell Class C shares represent approximately 7.2% of the issuer’s total outstanding common stock. Because Dell uses a multi-class structure, those shares represent about 13.0% of the combined voting power of the company’s common stock as of June 3, 2026.

How many Dell (DELL) Class B shares does Silver Lake still own and how are they treated?

Silver Lake reports beneficial ownership of 46,256,914 Dell Class B Common Stock shares as of June 3, 2026. These Class B shares are convertible into Class C Common Stock on a one-for-one basis at any time at the holder’s election, affecting potential future Class C ownership levels.

What recent Dell (DELL) share sales did Silver Lake report in this Schedule 13D/A?

Over the 60-day period ending June 3, 2026, certain Silver Lake entities sold an aggregate 2,148,664 shares of Dell Class C Common Stock. These sales occurred on April 15, April 16, June 1, June 2, and June 3, 2026, following conversions from Class B shares.

What Class B to Class C conversions did Silver Lake disclose for Dell (DELL)?

During the 60 days ending June 3, 2026, certain Silver Lake entities converted an aggregate 2,679,340 shares of Dell Class B Common Stock into Class C Common Stock. The filing notes that each Class B share is convertible into one Class C share at any time at the holder’s election.

Did Silver Lake distribute Dell (DELL) shares to its own investors?

Yes. Silver Lake entities distributed Dell Class C shares to their direct and indirect equity holders, including 312,832 shares on April 16, 2026, 60,496 shares on June 1, 2026, 43,896 shares on June 2, 2026, and 18,795 shares on June 3, 2026, from prior Class B conversions.

How many Dell (DELL) common shares are outstanding in total according to this filing?

The filing states 649,568,287 Dell common shares outstanding in aggregate as of June 3, 2026. This total includes 276,744,341 Class A shares, 46,256,914 Class B shares, and 326,567,032 Class C shares, based on Dell’s proxy statement and subsequent Class B to C conversions.