Silver Lake Entities Report Conversion and Sale of Dell Technologies Shares

Executive Summary

On September 10, 2026, a Form 4 was jointly filed by Silver Lake Group, L.L.C. and affiliated entities/directors, including Egon Durban, regarding transactions in Dell Technologies Inc. (DELL) completed on September 8, 2026.

The transactions comprised the conversion of 1,119 shares of Class B Common Stock into Class C Common Stock, followed by open-market sales of all 1,119 shares at prices ranging between $515.87 and $537.00 per share, generating aggregate gross proceeds of approximately $589,789.

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Transaction Breakdown

• Conversion (Code M): 1,119 shares of Class B Common Stock converted 1-for-1 to Class C Common Stock at $0.00.
• Dispositions (Code S): Executed in 21 distinct price tranches via Silver Lake Technology Investors IV, L.P. at an average weighted price of approximately $527.07 per share.
• Aggregate Shares Sold: 1,119 shares
• Aggregate Consideration: $589,788.81

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Ownership Structure & Significance

• Indirect Beneficiary: Silver Lake Technology Investors IV, L.P. reduced its specific direct Class C holding to 0 shares.
• Retained Stake: Substantial indirect ownership persists across multiple affiliated funds, including over 42.4 million shares of convertible Class B Common Stock and various Class C positions.
• Context: Given the minor volume compared to the overall multi-billion-dollar position maintained by Silver Lake entities, this transaction represents routine distribution/liquidation mechanics and carries low informational significance for broader market pricing.