Silver Lake Affiliates Sell Over $27 Million of Dell Technologies Stock

Executive Summary

On September 21, 2026, Silver Lake Group, L.L.C. and affiliated reporting entities, including SL SPV-2, L.P. and Issuer Director Egon Durban, filed Form 4 disclosures reporting transactions in Dell Technologies Inc. ($DELL) completed on September 17, 2026.

Transaction Details

• Derivative Exercise / Conversion (Code M): SL SPV-2, L.P. converted 68,637 shares of convertible Class B Common Stock into 68,637 shares of Class C Common Stock at an exercise price of $0.00.
• Open Market Sales (Code S): Across 14 distinct transactions, SL SPV-2, L.P. sold an aggregate of 46,253 shares of Class C Common Stock at weighted-average prices ranging from $577.60 to $591.24, generating gross proceeds of approximately $27.10 million (weighted average: ~$585.84 per share).
• Remaining Holdings: Following these transactions, SL SPV-2, L.P. retains direct ownership of 114,714 Class C Common shares and 15,960,011 shares of Class B Common Stock. Other Silver Lake entities hold tens of millions of Class B Common shares and additional direct/indirect Class C positions as detailed in the footnotes.

Significance & Context

• Trading Significance: High due to the multi-million-dollar transaction volume and the involvement of significant 10% owners and board representation.
• Pattern: Silver Lake periodically converts Class B stock and distributes or sells Class C common shares as part of long-term investment monetization and portfolio management.