SLTA V (GP), L.L.C. 4
4 · Dell Technologies Inc. · Filed Mar 19, 2026
Research Summary
AI-generated summary of this filing
Dell (DELL) 10% Owner SLTA V (GP) Sells ~237K Shares
What Happened
- SLTA V (GP), L.L.C., reported exercising/converting derivatives to acquire 325,204 shares of Dell Class C common stock on March 17, 2026, and conducted open‑market sales of approximately 237,431 shares the same day for total proceeds of about $36.66 million. The sales were executed at weighted‑average prices in the $153.01–$155.01 range (see footnotes for exact price ranges).
- These transactions primarily reflect conversions/exercises (transaction code M) followed by open‑market disposals (code S). Net from the conversions and sales, the reporting entity retained roughly 87,773 shares from the conversions (325,204 acquired − 237,431 sold), unless other filings show additional transfers.
Key Details
- Transaction date: March 17, 2026. Open‑market sale proceeds ≈ $36,659,820.
- Prices: weighted average prices reported; sales executed across ranges of ~$153.01–$155.01 per share (footnotes F14–F16 provide per‑trade ranges).
- Shares acquired via exercise/conversion: 325,204. Shares sold in open market: 237,431. Approximate net retained from these conversions: 87,773 shares.
- Notable footnotes: these transactions and related conversions/distributions involve Silver Lake affiliates; some shares were distributed in‑kind and exempt from reporting under Rule 16a‑13 (see F1–F3, F8–F13). The filing is part of a coordinated set of Forms 4 for related entities.
- Filing timeliness: Form 4 filed March 19, 2026 reporting transactions dated March 17, 2026 (appears timely under Section 16 reporting rules).
Context
- Derivative explanation: the filings show conversions/exercises of Class B/common equity into Class C shares (code M). The zero‑dollar derivative "disposals" reflect the administrative conversion/cancellation of the derivative interest; many of the converted shares were then sold in the market the same day (a cashless or immediate disposition pattern).
- Investor note: this is activity by a 10% institutional owner/affiliate (Silver Lake group), not necessarily an individual executive—such institutional conversions and block sales can be part of fund reorganization or distributions and may be exempt or coordinated across related entities.
Insider Transaction Report
Form 4
SLTA V (GP), L.L.C.
Director10% Owner
Transactions
- Exercise/Conversion
Class C Common Stock
[F1][F2][F3][F9]2026-03-17+124,880→ 124,880 total(indirect: Held through SL SPV-2, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F4][F9]2026-03-17+128,195→ 128,195 total(indirect: Held through Silver Lake Partners IV, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F5][F9]2026-03-17+69,392→ 69,392 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F6][F9]2026-03-17+1,886→ 1,886 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F7][F9]2026-03-17+851→ 851 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F14][F3][F9]2026-03-17$153.14/sh−9,535$1,460,190→ 115,345 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F14][F4][F9]2026-03-17$153.14/sh−11,045$1,691,431→ 117,150 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F14][F5][F9]2026-03-17$153.14/sh−5,666$867,691→ 63,726 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F14][F6][F9]2026-03-17$153.14/sh−211$32,313→ 1,675 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F14][F7][F9]2026-03-17$153.14/sh−95$14,548→ 756 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F15][F3][F9]2026-03-17$154.46/sh−61,578$9,511,338→ 53,767 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F15][F4][F9]2026-03-17$154.46/sh−71,331$11,017,786→ 45,818 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F15][F5][F9]2026-03-17$154.46/sh−36,592$5,652,000→ 27,134 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F15][F6][F9]2026-03-17$154.46/sh−1,362$210,375→ 313 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F15][F7][F9]2026-03-17$154.46/sh−615$94,993→ 141 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F16][F3][F9]2026-03-17$155.00/sh−14,149$2,193,095→ 39,618 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F16][F4][F9]2026-03-17$155.00/sh−16,390$2,540,450→ 29,428 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F16][F5][F9]2026-03-17$155.00/sh−8,408$1,303,240→ 18,726 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F16][F6][F9]2026-03-17$155.00/sh−313$48,515→ 0 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F16][F7][F9]2026-03-17$155.00/sh−141$21,855→ 0 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Exercise/Conversion
Class B Common Stock
[F2][F1][F3][F9]2026-03-17−124,880→ 19,323,408 total(indirect: Held through SL SPV-2, L.P.)→ Class C Common Stock (124,880 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F4][F9]2026-03-17−128,195→ 19,836,447 total(indirect: Held through Silver Lake Partners IV, L.P.)→ Class C Common Stock (128,195 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F5][F9]2026-03-17−69,392→ 10,737,444 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.)→ Class C Common Stock (69,392 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F6][F9]2026-03-17−1,886→ 291,860 total(indirect: Held through Silver Lake Technology Investors IV, L.P.)→ Class C Common Stock (1,886 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F7][F9]2026-03-17−851→ 131,612 total(indirect: Held through Silver Lake Technology Investors V, L.P.)→ Class C Common Stock (851 underlying)
Holdings
- 794(indirect: Held through Silver Lake Group)
Class C Common Stock
[F8][F9] - 692(indirect: See footnote)
Class C Common Stock
[F10] - 56,206(indirect: See footnote)
Class C Common Stock
[F11] - 1,252,345
Class C Common Stock
[F12] - 51,899(indirect: See footnote)
Class C Common Stock
[F13]
Footnotes (16)
- [F1]SL SPV-2, L.P. ("SPV-2"), Silver Lake Partners IV, L.P. ("SLP IV"), Silver Lake Partners V DE (AIV), L.P. ("SLP V") 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 March 17, 2026 and March 18, 2026 and initiated in-kind distributions of shares of Class C Common Stock on March 19, 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.
- [F10]These shares of Common Stock were 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 March 19, 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.
- [F11]In connection with the distributions described in footnote (1) above, pro rata distributions of certain shares were initiated to certain employees and managing members of SLG or its affiliates, including Egon Durban. This amount reflects 10,613, 6,350 and 39,243 shares held by SLTA SPV, SLTA V and SLG, respectively, on behalf of such individuals, including shares distributed in the March 19, 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.
- [F12]Represents shares of Class C Common Stock held by Mr. Durban immediately following the receipt of shares in connection with the distributions of shares of Class C Common Stock on March 19, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
- [F13]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 March 19, 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.
- [F14]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $153.0100 to $154.0030 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.
- [F15]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $154.0100 to $154.9999 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.
- [F16]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $155.00 to $155.01 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.
- [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 March 17, 2026 and March 18, 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.
- [F3]These securities are directly held by SPV-2. The general partner of SPV-2 is SLTA SPV-2, L.P. ("SLTA SPV") and the general partner of SLTA SPV is SLTA SPV-2 (GP), L.L.C. ("SLTA SPV GP").
- [F4]These securities are directly held by SLP IV. The general partner of SLP IV is Silver Lake Technology Associates IV, L.P. ("SLTA IV") and the general partner of SLTA IV is SLTA IV (GP), L.L.C. ("SLTA IV GP").
- [F5]These securities are directly held by SLP V. The general partner of SLP V is Silver Lake Technology Associates V, L.P. ("SLTA V") and the general partner of SLTA V is SLTA V (GP), L.L.C. ("SLTA V GP").
- [F6]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 SLTA IV and the general partner of SLTA IV is SLTA IV GP.
- [F7]These securities are directly held by Silver Lake Technology Investors V, L.P. The general partner of Silver Lake Technology Investors V, L.P. is SLTA V and the general partner of SLTA V is SLTA V GP.
- [F8]Reflects shares held by Silver Lake Group, L.L.C. ("SLG"). Shares held includes shares of Class C Common Stock received in connection with the pro rata distributions described herein on March 19, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
- [F9]SLG is the managing member of SLTA SPV GP, SLTA IV GP and SLTA V GP. 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.