Silver Lake Entities Report Small Conversion and Sale Transactions in Dell Technologies

Executive Summary

On October 14, 2026, Silver Lake Technology Investors V, L.P.—jointly filing with Silver Lake Technology Associates V, L.P., SLTA V (GP), L.L.C., Silver Lake Group, L.L.C., and Director Egon Durban—disclosed Form 4 activity in Dell Technologies Inc. (DELL) dated October 9, 2026. The transaction involved the conversion (Code M) of 449 shares of convertible Class B Common Stock into 449 shares of Class C Common Stock, which were subsequently sold in 17 distinct open-market tranches at prices ranging between $572.87 and $589.28, yielding aggregate proceeds of approximately $261,700.

Transaction Details

• Conversion Activity: 449 shares of Class B Common Stock converted to Class C Common Stock on a 1-for-1 basis at no cost.
• Sales Activity:
  • 449 shares sold across weighted average price increments from $572.87 to $589.28.
  • Aggregate transaction value was approximately $261,699.28.
• Ownership Status:
  • Directly owned shares post-transaction for Silver Lake Technology Investors V, L.P. dropped to 0 Class C shares, while retaining 107,788 shares of Class B Common Stock.
  • Affiliated Silver Lake entities and Egon Durban continue to hold significant beneficial ownership, including 41,104,067 shares of Class B Common Stock across related funds and over 1.7 million shares of Class C Common Stock held across direct/indirect accounts and partner distributions.

Significance & Market Impact

Given the minimal volume (449 shares) sold by this specific entity relative to Silver Lake's overarching position of tens of millions of shares, this transaction is assessed as having Low trading significance. It appears to be part of an administrative rebalancing or in-kind distribution process among fund partners and entities rather than a broad divestment.