Dell Technologies Inc. 4

Silver Lake Partners V DE (AIV), L.P. and affiliated Silver Lake entities, as insiders of Dell Technologies Inc., converted 41,165 Class B shares into Class C and sold about 27,616 Class C shares on September 8, 2026, while redistributing additional Class C shares in‑kind among affiliates and personnel.

On September 8, 2026, Silver Lake Partners V DE (AIV), L.P. and affiliated Silver Lake entities, which are deemed insiders of Dell Technologies Inc. through director Egon Durban and related control relationships, executed a large, structured disposition of Dell Class C Common Stock alongside internal in‑kind distributions and a conversion of Class B into Class C shares. The Form 4 shows the exercise/mandatory conversion of 41,165 shares of Class B Common Stock into an equal number of Class C shares (coded “M”), followed by a series of open‑market sales on the same day in multiple tranches between roughly $516 and $537 per share, aggregating 27,616 Class C shares, all held indirectly through Silver Lake Partners V DE (AIV), L.P. In addition, there was a journal entry (code “J”) moving 50,263 Class C shares, reducing Silver Lake Partners V DE (AIV), L.P.’s indirect holdings there by that amount (from 62,733 to 12,470 shares), consistent with the in‑kind distributions to other Silver Lake affiliates, employees, and to Mr. Durban personally as described in the footnotes (those distribution receipts are exempt from reporting under Rule 16a‑13). After these transactions, Silver Lake Partners V DE (AIV), L.P. continued to hold 91,036,686 Class C shares indirectly for the reporting group, while Mr. Durban also retained substantial indirect and direct interests through Silver Lake Group, L.L.C., affiliated funds and vehicles, and family trusts. Using Dell’s recent price (about $505 per share) as a proxy, the approximately 27,616 shares sold represent roughly $14–15 million in gross proceeds, and Silver Lake’s remaining indirect holdings reported on this Form 4 alone are valued in the tens of billions of dollars, indicating a partial monetization rather than an exit.

Filing Facts

CIK

1571996

Ticker

DELL

Form

4

Source Type

sec

Accession

0001193125-26-388264

Alert Tier

7