Form 4: Silver Lake Entities Adjust Dell Stock Holdings

Silver Lake entities and affiliates, including director Egon Durban, reported in-kind distributions and sales of Dell Technologies Class C Common Stock on September 25, 2025.

Summary

• Silver Lake entities (SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P.) completed in-kind distributions of Dell Technologies Class C Common Stock, disposing of 135,692, 100,400, and 63,813 shares respectively from these specific indirect holdings.
• Silver Lake Group, L.L.C. sold 6,701 shares of Class C Common Stock at a weighted average price of $130.62 per share.
• Entities in which Egon Durban has an indirect pecuniary interest sold 5,780 shares of Class C Common Stock at a weighted average price of $130.62 per share.
• Following these distributions and sales, Egon Durban directly holds 1,114,709 shares and indirectly holds 44,864 shares through a family trust.
• An additional 185,746 shares are held by various Silver Lake entities (SLTA SPV, SLTA V, SLTA IV, and SLG) on behalf of employees and managing members, including Egon Durban, following pro rata distributions.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions, including in-kind distributions among Silver Lake entities and affiliates, and relatively small sales of Dell Technologies Class C Common Stock by Silver Lake Group and entities associated with director Egon Durban. These are internal restructuring and pre-planned sales, not indicative of a strong positive or negative sentiment.

Related Party Transactions

• In-kind distributions of Class C Common Stock from SL SPV-2, L.P., Silver Lake Partners IV, L.P., and Silver Lake Partners V DE (AIV), L.P. to various reporting persons and affiliates.
• Sales of Class C Common Stock by Silver Lake Group, L.L.C. and entities where Egon Durban, a director and Co-CEO of Silver Lake Group, has an indirect pecuniary interest.

Stakeholder Impact

• Shareholders: The transactions represent a change in the beneficial ownership structure among Silver Lake entities and affiliates, and a reduction in holdings by certain insiders through sales. These are routine and not expected to have a significant direct impact on the broader shareholder base.

Key Dates

Recommendation

The Form 4 reports routine insider transactions, including in-kind distributions among Silver Lake entities and affiliates, and relatively small sales of Dell Technologies Class C Common Stock by Silver Lake Group and entities associated with director Egon Durban. These transactions do not provide a strong directional signal for the stock, suggesting a 'hold' recommendation as they are not indicative of significant changes in company fundamentals or insider confidence.

Keywords

Dell Technologies, DELL, Silver Lake, Insider Trading, Form 4, Stock Distribution, Stock Sale, Egon Durban