Silver Lake Entities Liquidate 1,037 Dell Technologies Shares

Executive Summary

On September 21, 2026, a joint Form 4 was filed by Silver Lake entities and Director Egon Durban disclosing transactions executed on September 17, 2026. Silver Lake Technology Investors IV, L.P. converted 1,037 shares of Class B Common Stock into Class C Common Stock and subsequently sold all 1,037 Class C shares in the open market across multiple tranches, realizing total proceeds of approximately $607,010 at an average weighted price of $585.35 per share.

Transaction Breakdown

• Conversion: 1,037 shares of convertible Class B Common Stock were exercised/converted on a 1:1 basis into Class C Common Stock (Transaction Code M) at an exercise price of $0.00.
• Sales: The resulting 1,037 shares of Class C Common Stock were sold in 14 separate open-market tranches at prices ranging between $577.60 and $591.24.
• Net Position: Following the reported transactions, Silver Lake Technology Investors IV, L.P. holds 0 direct shares of Class C Common Stock, while maintaining 241,058 shares of Class B Common Stock. Affiliated Silver Lake entities and Mr. Durban continue to hold substantial equity positions, including over 41.3 million Class B shares indirectly held across associated partnerships.

Market Significance

This transaction is categorized as Low significance. While Silver Lake and its affiliates represent major 10% owners and have board representation through Egon Durban, the disposition of 1,037 shares worth ~$607k represents a negligible portion of their overall multi-billion-dollar stake in Dell Technologies.