SL SPV-2, L.P. and affiliated Silver Lake entities filed a Form 4 on September 15, 2026, disclosing sales and conversions of Dell Technologies Inc. Class C Common Stock on September 11, 2026.

Key Highlights

  • Multiple sales on one date: SL SPV-2, L.P. sold shares of Class C Common Stock across numerous transactions on September 11, 2026, at prices ranging from $547.73 to $567.45 per share.
  • Conversion of Class B shares: On September 11, 2026, the reporting persons converted 107,040 shares of Class B Common Stock into an equal number of Class C Common Stock shares prior to the sales and distributions.
  • Remaining indirect beneficial ownership: Following all reported transactions, SL SPV-2, L.P. held 82,277 shares of Class C Common Stock indirectly after the final listed sale, with additional holdings reported separately across other affiliated entities.
  • In-kind distributions initiated: According to the filing, in-kind distributions of Class C Common Stock shares were initiated on September 11, 2026, with receipt by certain reporting persons described as exempt from reporting under Rule 16a-13 of the Exchange Act.
  • Multiple reporting persons: The form was filed jointly by SL SPV-2, L.P., SLTA SPV-2, L.P., SLTA SPV-2 (GP), L.L.C., Silver Lake Group, L.L.C., and Egon Durban, each identified as a director and/or 10% owner.
  • Director relationship: Egon Durban serves as a director of Dell Technologies Inc. and as CEO and a Managing Member of Silver Lake Group, L.L.C., according to the filing.

Silver Lake Entities Convert and Sell Dell Class C Shares on September 11, 2026

According to the Form 4 filed with the SEC, SL SPV-2, L.P., a Silver Lake-affiliated entity, reported a series of dispositions of Class C Common Stock of Dell Technologies Inc. (NYSE:DELL) on September 11, 2026. The filing indicates that 107,040 shares of Class B Common Stock, each convertible into one share of Class C Common Stock at a par value of $0.01 per share, were converted into Class C shares on that date in connection with planned sales and distributions.

The filing lists more than twenty individual sale transactions on September 11, 2026, executed at weighted average prices between $547.73 and $567.45 per share. The total shares disposed of through sales across the listed transactions reduced the indirect beneficial ownership held through SL SPV-2, L.P. from 154,426 shares immediately following the conversion to 82,277 shares after the final reported sale in Table I. A subsequent transaction coded "J" further reduced that position to 34,891 shares held indirectly through SL SPV-2, L.P., with separate beneficial ownership reported under other affiliated vehicles.

The filing further discloses that distributions of Class C Common Stock were initiated on September 11, 2026, by Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P., and certain affiliates. The filing states that receipt of shares in connection with those distributions was "exempt from reporting pursuant to Rule 16a-13 of the Exchange Act." Egon Durban is identified in the filing as a director of the issuer and as CEO and Managing Member of Silver Lake Group, L.L.C., which serves as managing member of SLTA SPV-2 (GP), L.L.C., the ultimate general partner of SL SPV-2, L.P.

What Was Disclosed

The filing reported the September 11, 2026 conversion of 107,040 Class B shares into Class C shares, followed by multiple open-market sales of Class C Common Stock at prices from $547.73 to $567.45, and the initiation of in-kind distributions, by Silver Lake-affiliated entities in Dell Technologies Inc.