Silver Lake Sells ~$14.96M of Dell Technologies (DELL) Common Stock

Executive Summary

On September 4, 2026, Silver Lake Partners V DE (AIV), L.P.—along with affiliated reporting entities and Egon Durban (Director and CEO of Silver Lake Group, L.L.C.)—executed multiple open-market sales of Dell Technologies Inc. (NYSE: DELL) Class C Common Stock. The aggregate disposition encompassed 28,696 shares for a total gross transaction value of approximately $14.96 million, at weighted average prices ranging from $515.53 to $529.16 per share.

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Transaction Breakdown

1. Derivative Conversion:

   • Converted 41,162 shares of Class B Common Stock into Class C Common Stock on a 1:1 basis ($0.00 conversion price) prior to the sales.
   • Remaining Class B shares held by Silver Lake Partners V DE (AIV), L.P.: 9,144,851 shares.

2. Open Market Dispositions (Class C Common Stock):

   • Total Shares Sold: 28,696 shares
   • Execution Price Range: $515.00 – $529.66
   • Weighted Average Sale Price: ~$521.34
   • Total Proceeds: ~$14,960,336.79

3. Post-Transaction Beneficial Ownership:

   • Silver Lake Partners V DE (AIV), L.P. (Indirect): 50,263 Class C shares & 9,144,851 Class B shares.
   • Other Silver Lake Affiliates & Related Entities: Multiple millions of Class B and hundreds of thousands of Class C shares remain under management across affiliated funds (including 33,712,272 Class B shares reported in affiliated holdings).
   • Egon Durban (Direct): 1,356,628 Class C shares.

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Significance & Market Context

• Trading Significance: Medium.
• While the headline sale value (~$14.96M) is significant, it represents a minor fraction (<0.3%) of Silver Lake's aggregate multi-billion dollar equity stake across Class B and Class C holdings in Dell Technologies.
• The conversion and subsequent partial liquidation are consistent with periodic liquidity programs and co-investment distributions rather than a wholesale exit strategy.