Silver Lake Group, L.L.C. 4
4 · Dell Technologies Inc. · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Dell (DELL) 10% Owner SLTA IV (GP) Sells Shares
What Happened
- SLTA IV (GP), L.L.C., a reported 10% owner of Dell Technologies (DELL), sold 150,022 shares in multiple open-market transactions on March 20, 2026, generating total proceeds of approximately $25,047,218. Reported weighted-average prices for those sales ranged from about $166.00 to $169.90 (see footnotes for per-trade ranges).
- On March 23, 2026, the reporting persons recorded the exercise/conversion of 630,583 shares (aggregate of 242,147; 248,576; 134,554; 3,657; and 1,649 shares). The conversion/exercise entries show $0 proceeds for the dispositions reported in connection with those derivative transactions; footnotes state certain Class B shares were converted into Class C shares in connection with the sales.
Key Details
- Transaction dates: Sales on Mar 20, 2026; conversions/exercises on Mar 23, 2026. Form 4 filed Mar 24, 2026 (timely).
- Price info: Weighted-average sale prices reported; individual trade price ranges: $166.00–$166.9998, $167.00–$167.98, $168.05–$169.01, and $169.15–$169.90 (per footnotes F14–F17).
- Shares sold (open market): 150,022 shares for ~$25.05M.
- Shares exercised/converted: 630,583 shares (no cash proceeds reported for those derivative dispositions).
- Shares owned after transaction: Not specified in the provided extract; related holdings and indirect pecuniary interests are described in the filing footnotes (see F10–F13, F8).
- Notable footnotes: F1 (sales by related Silver Lake entities), F2 (conversion of Class B to Class C shares), F9 (Silver Lake Group/management relationships), plus F14–F17 (price-range disclosures). Reporting persons disclaim beneficial ownership except to extent of any pecuniary interest.
- Filing timeliness: Filed within required window (Form filed Mar 24 for Mar 20/23 transactions).
Context
- This filing reflects institutional-level selling and derivative conversions by Silver Lake–related entities (a 10% owner), not a straightforward executive buy or sale by an individual insider. Footnotes indicate many shares are held through affiliated entities and some holdings relate to or are attributed indirectly to individuals (see footnotes regarding Egon Durban and other affiliated vehicles). For derivative entries: the filing indicates conversion/exercise of holders’ Class B shares into Class C shares in connection with sales; the $0 entries reflect dispositions tied to those conversions per the filing.
Insider Transaction Report
Form 4
SLTA IV (GP), L.L.C.
Director10% Owner
Transactions
- Sale
Class C Common Stock
[F1][F2][F14][F3][F9]2026-03-20$166.44/sh−37,837$6,297,590→ 91,384 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F1][F2][F14][F4][F9]2026-03-20$166.44/sh−43,875$7,302,555→ 74,451 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F1][F2][F14][F5][F9]2026-03-20$166.44/sh−22,455$3,737,410→ 45,281 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F1][F2][F14][F6][F9]2026-03-20$166.44/sh−838$139,477→ 355 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F1][F2][F14][F7][F9]2026-03-20$166.44/sh−378$62,914→ 160 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F1][F2][F15][F3][F9]2026-03-20$167.24/sh−7,520$1,257,645→ 83,865 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F1][F2][F15][F4][F9]2026-03-20$167.24/sh−8,719$1,458,166→ 65,732 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F1][F2][F15][F5][F9]2026-03-20$167.24/sh−4,462$746,225→ 40,819 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F1][F2][F15][F6][F9]2026-03-20$167.24/sh−167$27,929→ 188 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F1][F2][F15][F7][F9]2026-03-20$167.24/sh−75$12,543→ 85 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F1][F2][F16][F3][F9]2026-03-20$168.57/sh−5,009$844,367→ 78,856 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F1][F2][F16][F4][F9]2026-03-20$168.57/sh−5,809$979,223→ 59,923 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F1][F2][F16][F5][F9]2026-03-20$168.57/sh−2,973$501,159→ 37,846 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F1][F2][F16][F6][F9]2026-03-20$168.57/sh−111$18,711→ 77 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F1][F2][F16][F7][F9]2026-03-20$168.57/sh−50$8,429→ 35 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F1][F2][F17][F3][F9]2026-03-20$169.63/sh−3,499$593,535→ 75,357 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F1][F2][F17][F4][F9]2026-03-20$169.63/sh−4,057$688,189→ 55,866 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F1][F2][F17][F5][F9]2026-03-20$169.63/sh−2,076$352,152→ 35,770 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F1][F2][F17][F6][F9]2026-03-20$169.63/sh−77$13,062→ 0 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F1][F2][F17][F7][F9]2026-03-20$169.63/sh−35$5,937→ 0 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F3][F9]2026-03-23+242,147→ 317,504 total(indirect: Held through SL SPV-2, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F4][F9]2026-03-23+248,576→ 304,442 total(indirect: Held through Silver Lake Partners IV, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F5][F9]2026-03-23+134,554→ 170,324 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F6][F9]2026-03-23+3,657→ 3,657 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F7][F9]2026-03-23+1,649→ 1,649 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Exercise/Conversion
Class B Common Stock
[F2][F1][F3][F9]2026-03-23−242,147→ 18,791,747 total(indirect: Held through SL SPV-2, L.P.)→ Class C Common Stock (242,147 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F4][F9]2026-03-23−248,576→ 19,290,670 total(indirect: Held through Silver Lake Partners IV, L.P.)→ Class C Common Stock (248,576 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F5][F9]2026-03-23−134,554→ 10,442,016 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.)→ Class C Common Stock (134,554 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F6][F9]2026-03-23−3,657→ 283,830 total(indirect: Held through Silver Lake Technology Investors IV, L.P.)→ Class C Common Stock (3,657 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F7][F9]2026-03-23−1,649→ 127,991 total(indirect: Held through Silver Lake Technology Investors V, L.P.)→ Class C Common Stock (1,649 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 (17)
- [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 20, 2026 and March 23, 2026.
- [F10]These shares of Class C Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest.
- [F11]This amount reflects 10,613, 6,350 and 39,243 shares held by SLTA SPV, SLTA V and SLG, respectively, on behalf of certain employees and managing members of SLG or its affiliates, including Mr. Durban.
- [F12]Represents shares of Class C Common Stock held by Mr. Durban.
- [F13]Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.
- [F14]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $166.00 to $166.9998 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 $167.00 to $167.98 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 $168.05 to $169.01 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.
- [F17]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $169.15 to $169.90 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 20, 2026 and March 23, 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.
- [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").
- [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.