Silver Lake Entities Report Conversion and Sale of Dell Technologies Stock

Executive Summary

On September 10, 2026, Silver Lake and affiliated entities filed a Form 4 reporting multiple transactions in Dell Technologies Inc. ($DELL) that occurred on September 8, 2026. The reported activity included:

• Derivative Conversion: Conversion of 41,165 shares of Class B Common Stock to Class C Common Stock.
• Open Market Sales: A series of 21 open-market sale transactions totaling 28,693 shares of Class C Common Stock across price ranges from $515.87 to $537.00 per share, generating aggregate proceeds of approximately $15.11 million.
• Distributions: An in-kind pro-rata distribution of 50,263 Class C shares (Transaction Code 'J') to partners/members.

Transaction Breakdown

• Security: Class C Common Stock
• Total Sold via Open Market: 28,693 shares
• Average Realized Price: ~$526.56 per share
• Total Disposition Value: ~$15,108,586
• Ending Balance for Silver Lake Partners V DE (AIV), L.P.: 12,470 shares of Class C Common Stock directly held post-distribution/sale, plus 9,103,686 shares of convertible Class B Common Stock.

Context & Ownership

Silver Lake continues to maintain substantial direct and indirect beneficial ownership in Dell Technologies Inc. through various fund entities, holding tens of millions of Class B Common shares convertible into Class C Common Stock.