Silver Lake & Egon Durban Sell $25.9M in Dell Technologies Stock

Executive Summary

On October 14, 2026, Silver Lake Group, L.L.C. alongside affiliated entities (including SL SPV-2, L.P.) and Dell director Egon Durban filed Form 4 disclosures detailing substantial equity transactions in Dell Technologies Inc. (DELL) executed on October 9, 2026. The group executed open-market sales totaling 44,408 shares of Class C Common Stock for aggregate gross proceeds of approximately $25.86 million, at weighted average prices ranging from $572.87 to $589.28 per share.

Transaction Mechanics

1. Conversion of Derivative Securities:
   • SL SPV-2, L.P. converted 65,892 shares of Class B Common Stock into Class C Common Stock on a 1:1 basis at no cost.
2. Open-Market Dispositions (Code S):
   • 44,408 Class C shares were sold across 17 distinct price tranches ranging between $572.87 and $589.28.
3. In-Kind Distributions (Code J):
   • SL SPV-2, L.P. distributed 22,254 shares of Class C Common Stock in-kind to limited partners/affiliates.
4. Post-Transaction Positioning:
   • SL SPV-2, L.P. retains 21,486 Class C shares and 15,825,543 convertible Class B shares.
   • Affiliated Silver Lake entities retain over 25.38 million Class B shares, and Durban directly/indirectly holds substantial additional equity.

Market Impact & Significance

This multi-step conversion, sale, and distribution is a standard liquidity management action commonly executed by private equity sponsors. Given the size ($25.9M) and high-profile nature of Silver Lake and director Egon Durban, the trade carries high market significance, though Silver Lake remains one of the largest institutional stakeholders in Dell Technologies.