Silver Lake Affiliate Files Form 144 to Sell $74.6M in Dell Technologies ($DELL)

Executive Summary

On September 3, 2026, SL SPV-2, L.P., an affiliate of private equity sponsor Silver Lake, submitted a Form 144 notice proposing the sale of 151,531 shares of Dell Technologies Inc. (NYSE: DELL) Class C Common Stock with an estimated aggregate market value of $74,583,558.20.

Transaction Details

• Security: Class C Common Stock
• Units to be Sold: 151,531 shares
• Aggregate Market Value: $74,583,558.20 (~$492.20 per share)
• Shares Outstanding: 325,046,693 Class C shares
• Broker: Merrill Lynch, Pierce, Fenner & Smith Inc.
• Origin of Securities: Acquired on September 3, 2026, via conversion of Class B Common Stock (originally acquired in 2019).

Prior 3-Month Activity

Silver Lake-affiliated entities (including SL SPV-2, L.P., Silver Lake Partners IV, and Silver Lake Partners V) have executed substantial ongoing dispositions between June and July 2026 across dozens of transactions, representing hundreds of millions in gross proceeds.

Market Impact & Significance

This proposed sale represents significant capital redeployment/liquidity by Dell's major institutional sponsor. While expected given Silver Lake's historical staggered monetization of its post-merger equity holdings, the large size ($74.6M) warrants close attention from market participants tracking institutional supply dynamics.