Silver Lake Partners IV, L.P. and affiliated reporting persons filed a Form 4 with the SEC on September 16, 2026, disclosing Class B Common Stock conversions and multiple Class C Common Stock sales in Dell Technologies Inc. that took place on September 14, 2026.

Key Highlights

  • Security sold: Class C Common Stock (par value $0.01 per share) of Dell Technologies Inc. (NYSE:DELL)
  • Transaction date: September 14, 2026, covering multiple sale tranches at weighted average prices ranging from $530.67 to $544.51 per share
  • Conversion event: Shares of Class B Common Stock were converted into an equal number of Class C shares on September 14, 2026, prior to the sales
  • Post-transaction indirect holdings: Silver Lake Partners IV, L.P. held 41,400 shares of Class C Common Stock indirectly following the reported sales in Table I
  • Direct holdings disclosed: Egon Durban held 1,395,650 shares of Class C Common Stock directly following reported transactions
  • Multiple reporting persons: The filing was made jointly by Silver Lake Partners IV, L.P.; Silver Lake Technology Associates IV, L.P.; SLTA IV (GP), L.L.C.; Silver Lake Group, L.L.C.; and Egon Durban
  • Remaining derivative position: 16,597,353 Class B Common Stock units (convertible into Class C shares) remained held indirectly through Silver Lake Partners IV, L.P. following the transactions

Dell Technologies Class B Conversions and Class C Sales by Silver Lake Entities

According to the filing, Silver 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 shares of Class C Common Stock of Dell Technologies Inc. on September 14, 2026. In connection with those sales, certain of the reporting persons first converted shares of Class B Common Stock into an equal number of Class C shares. The filing states that each Class B share is convertible into one Class C share at any time at the holder's election or automatically upon certain transfers, with no expiration date.

The sales reported for Silver Lake Partners IV, L.P. were executed across multiple tranches at weighted average prices. The filing lists sale prices including $530.67, $531.63, $532.62, $533.80, $534.55, $535.76, $536.74, $537.94, $539.00, $540.18, $540.82, $542.13, and $543.04 per share for indirectly held shares, and $535.50, $543.47, and $544.51 per share for shares held directly by Egon Durban. The filing notes that the prices in each tranche are weighted averages representing sales across multiple sub-transactions and that full detail by price is available upon request.

Egon Durban, who the filing identifies as a director of Dell Technologies and as CEO and a Managing Member of Silver Lake Group, L.L.C., is listed as one of the reporting persons. The filing notes that each of the reporting persons "may be deemed a director by deputization of the Issuer." In addition to shares held directly, the filing discloses indirect holdings for Durban through a family trust (51,433 shares) and through entities in which he may be deemed to have an indirect pecuniary interest (1,862 shares), as well as other indirectly held positions across affiliated entities.

What Was Disclosed

The filing discloses Class B-to-Class C Common Stock conversions and subsequent multi-tranche sales of Dell Technologies Class C shares by Silver Lake Partners IV, L.P. and related entities on September 14, 2026, along with resulting beneficial ownership positions for each reporting person.