Silver Lake Technology Investors IV, L.P. and related reporting persons filed a Form 4 with the SEC on September 11, 2026, disclosing the sale of Class C Common Stock of Dell Technologies Inc. (NYSE:DELL) on September 9, 2026, along with a prior conversion of Class B shares into Class C shares.

Key Highlights

  • Conversion: 1,078 shares of Class B Common Stock were converted into 1,078 shares of Class C Common Stock on September 9, 2026, at no cost, per the filing.
  • Sales executed: Silver Lake Technology Investors IV, L.P. disposed of all 1,078 Class C shares acquired via conversion through a series of open-market sales on September 9, 2026, at weighted average prices ranging from $534.09 to $550.71 per share.
  • Post-transaction balance: Following the sales, Silver Lake Technology Investors IV, L.P. holds 0 Class C Common Stock directly through that vehicle, according to the filing.
  • Remaining indirect holdings: The filing reports additional Class C Common Stock held indirectly across related Silver Lake entities, including 2,562 shares held through Silver Lake Group, L.L.C. and 214,632 shares through other noted footnoted vehicles.
  • Derivative securities: 246,373 shares of Class B Common Stock remain beneficially owned indirectly through Silver Lake Technology Investors IV, L.P., with an aggregate of 42,232,027 Class B shares noted in a separate footnoted position.
  • Reporting persons: The filing is made jointly by Silver Lake Technology Investors IV, L.P.; Silver Lake Technology Associates IV, L.P.; SLTA IV (GP), L.L.C.; Silver Lake Group, L.L.C.; and Egon Durban, each identified as a Director and/or 10% Owner of Dell Technologies Inc.

Silver Lake and Egon Durban Disclose Dell Technologies Share Activity

According to the filing, Silver Lake Technology Investors IV, L.P. first converted 1,078 shares of Class B Common Stock into an equal number of Class C Common Stock on September 9, 2026. The filing notes that each share of Class B Common Stock "is convertible into one share of Class C Common Stock at any time, at the election of the holder or automatically upon certain transfers, and has no expiration date." The conversion carried a price of $0, as stated in Table II of the filing.

Following the conversion, the filing discloses that Silver Lake Technology Investors IV, L.P. sold the resulting 1,078 Class C shares across 17 separate transactions on September 9, 2026. The weighted average sale prices reported ranged from $534.09 per share to $550.71 per share. After all sales were completed, the beneficial ownership of Class C shares held through Silver Lake Technology Investors IV, L.P. reached 0, per the filing's Table I. The filing also notes that Egon Durban, who serves as a director of Dell Technologies Inc. and as CEO and Managing Member of Silver Lake Group, L.L.C., holds 1,397,035 shares of Class C Common Stock directly and 51,173 shares indirectly through a family trust, as reported separately in the filing.

The five reporting persons disclosed in the filing - Silver Lake Technology Investors IV, L.P.; Silver Lake Technology Associates IV, L.P.; SLTA IV (GP), L.L.C.; Silver Lake Group, L.L.C.; and Egon Durban - are each identified as a Director and/or 10% Owner of Dell Technologies Inc. The filing states that "each of the Reporting Persons may be deemed a director by deputization of the Issuer."

What Was Disclosed

The filing reports the conversion of 1,078 Class B shares to Class C shares and the subsequent sale of those shares in 17 transactions at weighted average prices between $534.09 and $550.71, reducing that vehicle's directly-tracked Class C position to zero as of September 9, 2026.