SEC Form 4 · accession 0001193125-26-393131
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 14, 2026 | M | 37,750 | — | A | 68,561 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF10,F3,F4 | Sep 14, 2026 | S | 4,936 | $530.67 | D | 63,625 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF11,F3,F4 | Sep 14, 2026 | S | 7,312 | $531.63 | D | 56,313 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF12,F3,F4 | Sep 14, 2026 | S | 2,837 | $532.62 | D | 53,477 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF13,F3,F4 | Sep 14, 2026 | S | 1,963 | $533.80 | D | 51,513 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF14,F3,F4 | Sep 14, 2026 | S | 1,674 | $534.55 | D | 49,839 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF15,F3,F4 | Sep 14, 2026 | S | 1,269 | $535.76 | D | 48,570 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF16,F3,F4 | Sep 14, 2026 | S | 615 | $536.74 | D | 47,955 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF17,F3,F4 | Sep 14, 2026 | S | 1,981 | $537.94 | D | 45,974 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF18,F3,F4 | Sep 14, 2026 | S | 2,851 | $539.00 | D | 43,123 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF19,F3,F4 | Sep 14, 2026 | S | 531 | $540.18 | D | 42,592 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF20,F3,F4 | Sep 14, 2026 | S | 503 | $540.82 | D | 42,089 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF21,F3,F4 | Sep 14, 2026 | S | 598 | $542.13 | D | 41,491 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF22,F3,F4 | Sep 14, 2026 | S | 91 | $543.04 | D | 41,400 | I | Held through Silver Lake Partners IV, L.P. |
| Class C Common StockF23,F8 | Sep 14, 2026 | S | 4,750 | $535.50 | D | 1,399,000 | D | |
| Class C Common StockF24,F8 | Sep 14, 2026 | S | 2,551 | $543.47 | D | 1,396,449 | D | |
| Class C Common StockF25,F8 | Sep 14, 2026 | S | 799 | $544.51 | D | 1,395,650 | D | |
| 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 StockF9 | holding | — | — | — | 51,433 | I | See footnote | |
| Class C Common StockF26 | holding | — | — | — | 71,110 | 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 14, 2026 | M | 37,750 | D | — | — | Class C Common Stock | 37,750 | 16,597,353 | I |
| Class B Common StockF27,F2 | — | holding | — | — | — | — | — | Class C Common Stock | 25,506,537 | 25,506,537 | 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 14, 2026.
- F10The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $530.0600 to $531.0500 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 $531.0700 to $532.0600 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.
- F12The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $532.0900 to $533.0000 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.
- F13The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $533.1800 to $534.1600 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 $534.2000 to $535.1400 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 $535.2100 to $536.2000 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.
- F16The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $536.4700 to $537.0000 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.
- F17The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $537.4900 to $538.4300 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 $538.5400 to $539.5200 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 $539.6300 to $540.5300 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 14, 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.
- F20The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $540.6500 to $540.8800 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 $541.8000 to $542.6800 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 $543.0000 to $543.4600 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 $535.4400 to $535.5950 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 $543.2000 to $544.0150 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 $544.4300 to $544.7050 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.
- F26Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 46,873 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 24,237 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.
- F27Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,168,089 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 8,984,126 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 244,201 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 110,121 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
- F3These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C.
- F4Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (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.
- F6Reflects shares of Class C Common Stock held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest.
- F7This 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 certain employees and managing members of SLG or its affiliates.
- F8Reflects shares of Class C Common Stock held directly by Mr. Durban.
- F9Reflects shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.
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.