SEC Form 4 · accession 0001193125-26-392089
Dell Technologies Inc. · DELL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class C Common StockF1,F2,F3,F4 | Sep 11, 2026 | M | 107,040 | — | A | 154,426 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF10,F3,F4 | Sep 11, 2026 | S | 2,479 | $547.73 | D | 151,947 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF11,F3,F4 | Sep 11, 2026 | S | 1,818 | $548.47 | D | 150,129 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF12,F3,F4 | Sep 11, 2026 | S | 592 | $550.03 | D | 149,537 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF13,F3,F4 | Sep 11, 2026 | S | 1,347 | $551.38 | D | 148,190 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF14,F3,F4 | Sep 11, 2026 | S | 3,262 | $552.15 | D | 144,928 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF15,F3,F4 | Sep 11, 2026 | S | 2,388 | $553.09 | D | 142,540 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF16,F3,F4 | Sep 11, 2026 | S | 410 | $554.33 | D | 142,130 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF17,F3,F4 | Sep 11, 2026 | S | 868 | $555.54 | D | 141,261 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF18,F3,F4 | Sep 11, 2026 | S | 2,658 | $556.80 | D | 138,603 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF19,F3,F4 | Sep 11, 2026 | S | 9,076 | $557.77 | D | 129,526 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF20,F3,F4 | Sep 11, 2026 | S | 8,057 | $558.65 | D | 121,470 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF21,F3,F4 | Sep 11, 2026 | S | 9,228 | $559.62 | D | 112,242 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF22,F3,F4 | Sep 11, 2026 | S | 10,216 | $560.66 | D | 102,027 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF23,F3,F4 | Sep 11, 2026 | S | 8,472 | $561.75 | D | 93,554 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF24,F3,F4 | Sep 11, 2026 | S | 3,933 | $562.53 | D | 89,622 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF25,F3,F4 | Sep 11, 2026 | S | 1,737 | $563.44 | D | 87,885 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF26,F3,F4 | Sep 11, 2026 | S | 2,523 | $564.63 | D | 85,362 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF27,F3,F4 | Sep 11, 2026 | S | 1,036 | $565.63 | D | 84,326 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF28,F3,F4 | Sep 11, 2026 | S | 658 | $566.65 | D | 83,667 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF29,F3,F4 | Sep 11, 2026 | S | 1,390 | $567.45 | D | 82,277 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF1,F3,F4 | Sep 11, 2026 | J | 47,386 | — | D | 34,891 | I | Held through SL SPV-2, L.P. |
| Class C Common StockF4,F5 | holding | — | — | — | 3,215 | I | Held through Silver Lake Group, L.L.C. | |
| Class C Common StockF6 | holding | — | — | — | 1,862 | I | See footnote | |
| Class C Common StockF7 | holding | — | — | — | 239,356 | I | See footnote | |
| Class C Common StockF8 | holding | — | — | — | 1,403,750 | D | ||
| Class C Common StockF9 | holding | — | — | — | 51,433 | I | See footnote | |
| Class C Common StockF30 | holding | — | — | — | 48,856 | I | See footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class B Common StockF3,F4,F2 | — | Sep 11, 2026 | M | 107,040 | D | — | — | Class C Common Stock | 107,040 | 16,204,862 | I |
| Class B Common StockF31,F2 | — | holding | — | — | — | — | — | Class C Common Stock | 25,994,791 | 25,994,791 | I |
Explanation of responses
- F1Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. 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 September 11, 2026 and initiated in-kind distributions of shares of Class C Common Stock on September 11, 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.
- F10The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $547.1100 to $548.0600 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.
- F11The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $548.1500 to $548.9300 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.
- F12The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $549.4400 to $550.3200 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.
- F13The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $550.7700 to $551.7600 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.
- F14The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $551.7700 to $552.7400 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.
- F15The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $552.7700 to $553.7500 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.
- F16The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $553.8800 to $554.7458 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.
- F17The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $555.0825 to $556.0006 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.
- F18The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $556.1900 to $557.1800 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.
- F19The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $557.1900 to $558.1700 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.
- F2Each 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 September 11, 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.
- F20The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $558.1900 to $559.1700 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.
- F21The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $559.1900 to $560.1800 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.
- F22The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $560.1900 to $561.1800 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.
- F23The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $561.1900 to $562.1700 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.
- F24The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $562.2000 to $563.1500 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.
- F25The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $563.2200 to $564.1900 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.
- F26The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $564.2200 to $565.2000 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.
- F27The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $565.2500 to $566.0000 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.
- F28The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $566.3300 to $567.0000 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.
- F29The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $567.0800 to $567.7100 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.
- F3These securities are held by SL SPV-2, L.P. The general partner of SL SPV-2, L.P. is SLTA SPV-2, L.P. and the general partner of SLTA SPV-2, L.P. is SLTA SPV-2 (GP), L.L.C.
- F30Following the transactions described in footnote (1), Silver Lake Partners IV, L.P. directly holds 30,811 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 18,045 shares of Class C Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 0 shares of Class C Common Stock and Silver Lake Technology Investors V, L.P. directly holds 0 shares of Class C Common Stock, which securities and transactions are reported on separate Form 4 filings.
- F31Following the transactions described in footnote (1), Silver Lake Partners IV, L.P. directly holds 16,635,103 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,004,560 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 244,756 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 110,372 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
- F4Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA SPV-2 (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer.
- F5Reflects shares of Class C Common Stock held by SLG, including shares received in connection with the distribution of shares of Class C Common Stock described herein on September 11, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
- F6These shares of Class C Common Stock are 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 September 11, 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.
- F7In connection with the distributions described in footnote (1) above, distributions of certain shares were initiated to certain employees and managing members of SLG or its affiliates, including Mr. Durban. This amount reflects 41,375, 137,789, 35,426 and 24,766 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P. and SLG, respectively, on behalf of such individuals, including shares distributed in the September 11, 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.
- F8Represents shares of Class C Common Stock held directly by Mr. Durban, including shares received by Mr. Durban in connection with the distribution of shares of Class C Common Stock on September 11, 2026. The deemed receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. Mr. Durban has filed a separate Form 4 reporting transactions in securities of the Issuer on September 11, 2026.
- F9Represents 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 September 11, 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.
Remarks
The Reporting Persons are jointly filing this Form 4 pursuant to Rule 16a-3(j) under the Exchange Act. This filing shall not be deemed an admission that the Reporting Persons are beneficial owners of all securities covered by this filing for purposes of Section 16 of the Exchange Act or otherwise, and each Reporting Person disclaims beneficial ownership of these securities, except to the extent of such Reporting Person's pecuniary interest therein, if any. Due to certain reporting restrictions including that no more than 30 transactions can be listed on each Table of the Form 4 filing and no more than 10 reporting persons can file any one Form 4 through the Securities and Exchange Commission's EDGAR system, certain affiliates of the Reporting Persons have filed separate Forms 4 reporting additional transactions.