Silver Lake Partners V DE (AIV), L.P. and affiliated reporting persons filed a Form 4 with the SEC on September 11, 2026, disclosing the sale of Dell Technologies Inc. Class C Common Stock on September 9, 2026, along with a prior conversion of Class B shares into Class C shares.

Key Highlights

  • Conversion transaction: 39,647 shares of Class B Common Stock were converted into an equal number of Class C Common Stock on September 9, 2026, at $0 per share.
  • Multiple sale tranches: Class C Common Stock shares were disposed of across numerous transactions on September 9, 2026, at weighted average prices ranging from $534.09 to $550.71 per share.
  • Remaining beneficial ownership (via Silver Lake Partners V DE (AIV), L.P.): Following all reported transactions, 24,488 shares of Class C Common Stock are held indirectly through Silver Lake Partners V DE (AIV), L.P.
  • Derivative securities remaining: 9,064,039 Class B Common Stock derivative securities (convertible into Class C Common Stock) remain beneficially owned indirectly through Silver Lake Partners V DE (AIV), L.P. after the reported transaction.
  • Multiple reporting persons: The filing was made jointly by Silver Lake Partners V DE (AIV), L.P.; Silver Lake Technology Associates V, L.P.; SLTA V (GP), L.L.C.; Silver Lake Group, L.L.C.; and Egon Durban, who serves as a director of Dell Technologies Inc.
  • Director and 10% owner status: All entity reporting persons are identified as both Director (by deputization) and 10% Owner of Dell Technologies Inc.

Silver Lake Entities Report Class B Conversion and Class C Sales in Dell Technologies

According to the filing, Silver Lake Partners V DE (AIV), L.P. and several affiliated entities and individuals are reporting persons on this jointly filed Form 4 covering transactions in Dell Technologies Inc. (NYSE:DELL) Class C Common Stock on September 9, 2026. The filing discloses that certain of the reporting persons converted shares of Class B Common Stock, par value $0.01 per share, into an equal number of Class C Common Stock shares in connection with subsequent sales. As the filing states, each share of 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."

Following the conversion of 39,647 Class B shares, the filing reports that 39,647 Class C shares were acquired by Silver Lake Partners V DE (AIV), L.P., bringing its initial holding to 52,117 shares before the sales. The subsequent disposals occurred across 17 separate sale transactions at weighted average prices between $534.09 and $550.71 per share, reducing the indirectly held position through Silver Lake Partners V DE (AIV), L.P. to 24,488 shares of Class C Common Stock. The filing notes that the prices reported are weighted averages, and the reporting persons undertake to provide transaction details upon request.

Egon Durban, identified in the filing as serving as a director of Dell Technologies Inc. as well as CEO and a Managing Member of Silver Lake Group, L.L.C., is among the reporting persons. The filing states that Silver Lake Group, L.L.C. is the managing member of SLTA V (GP), L.L.C., which is the general partner of Silver Lake Technology Associates V, L.P., which in turn is the general partner of Silver Lake Partners V DE (AIV), L.P. Mr. Durban also directly holds 1,397,035 shares of Class C Common Stock and indirectly holds 51,173 shares through a trust for the benefit of certain family members, according to the filing.

What Was Disclosed

The filing reports a conversion of 39,647 Class B shares into Class C shares and subsequent sales of Class C Common Stock by Silver Lake-affiliated entities in Dell Technologies on September 9, 2026, filed jointly by five reporting persons including director Egon Durban.