Silver Lake & Director Egon Durban Sell $30.4M of Dell Technologies ($DELL)

Executive Summary

On September 10, 2026, a Form 4 was filed reporting multiple transactions on September 8, 2026, by Silver Lake group entities and Director Egon Durban. In aggregate, the reporting owners converted 76,049 shares of Class B Common Stock to Class C Common Stock and executed open-market sales totaling 57,630 shares of Class C Common Stock at weighted average prices between $516.27 and $536.40, generating gross proceeds of approximately $30.38 million.

Breakdown of Transactions

1. Derivative Conversion (Code M):

   • Converted 76,049 shares of Class B Common Stock into 76,049 shares of Class C Common Stock on a 1:1 basis at $0 exercise price.

2. Open-Market Sales (Code S):

   • Silver Lake Partners IV, L.P. (Indirect): Sold 54,730 shares across 21 transaction blocks ranging from $516.27 to $536.40, totaling ~$28.85M.
   • Egon Durban (Direct): Sold 2,900 shares across 3 transaction blocks ranging from $528.19 to $529.92, totaling ~$1.53M.
   • Combined Total Disposed: 57,630 shares for ~$30.38M.

Retained Beneficial Holdings

Following the transactions and related in-kind distributions:

• Silver Lake Partners IV, L.P.: Retained 106,837 shares of Class C Common Stock and 16,818,228 shares of Class B Common Stock.
• Egon Durban (Direct): Retained 1,398,935 shares of Class C Common Stock.
• Other Affiliated Holdings: Multi-million share indirect exposure persists via various Silver Lake partner entities and co-investment vehicles.