Form 4: Silver Lake Entities and Director Egon Durban Report Dell Technologies Share Distributions and Sales

Silver Lake investment entities and Dell Technologies director Egon Durban reported in-kind distributions of Class C Common Stock and minor sales of Dell shares.

Summary

• SL SPV-2, L.P. disposed of 28,234 shares of Dell Technologies Class C Common Stock through an in-kind distribution on July 17, 2025.
• Silver Lake Partners IV, L.P. disposed of 21,408 shares of Dell Technologies Class C Common Stock through an in-kind distribution on July 17, 2025.
• Silver Lake Partners V DE (AIV), L.P. disposed of 13,497 shares of Dell Technologies Class C Common Stock through an in-kind distribution on July 17, 2025.
• Silver Lake Group, L.L.C. sold 3,262 shares of Class C Common Stock at a weighted average price of $123.50 per share on July 17, 2025.
• Entities in which Egon Durban may have an indirect pecuniary interest sold 2,824 shares of Class C Common Stock at a weighted average price of $123.50 per share on July 17, 2025.
• The in-kind distributions and receipt of shares by reporting persons were exempt from reporting under Rule 16a-13 of the Exchange Act.
• Following these transactions, 122,529 shares are held indirectly by Silver Lake entities on behalf of certain employees and managing members, including Egon Durban.
• Egon Durban directly holds 986,261 shares of Class C Common Stock after the distributions.
• Egon Durban indirectly beneficially owns 40,739 shares of Class C Common Stock through a family trust after the distributions.

Sentiment

Score: 5

Explanation: The filing is a routine report of insider transactions, primarily involving internal distributions and minor sales, which is neutral for the company's operational outlook.

Negatives

• Silver Lake Group, L.L.C. and entities related to Egon Durban sold a total of 6,086 shares of Dell Technologies Class C Common Stock.

Future Outlook

No forward-looking statements or guidance regarding Dell Technologies' business operations or financial performance are provided.

Management Comments

• The Reporting Persons are jointly filing this Form 4 pursuant to Rule 16a-3(j) under the Exchange Act.
• This filing shall not be deemed an admission that the Reporting Persons are beneficial owners of all securities covered by this filing for purposes of Section 16 of the Exchange Act or otherwise, and each Reporting Person disclaims beneficial ownership of these securities, except to the extent of such Reporting Person's pecuniary interest therein, if any.

Industry Context

This filing details insider transactions by a major private equity firm, Silver Lake, and its affiliated director, Egon Durban, concerning their holdings in Dell Technologies. Such transactions are common for large institutional investors as they manage their portfolio and distribute assets to limited partners or employees.

Related Party Transactions

• In-kind distributions of Class C Common Stock were initiated by SL SPV-2, L.P., Silver Lake Partners IV, L.P., and Silver Lake Partners V DE (AIV), L.P., and certain of their respective affiliates to underlying entities and individuals, including Egon Durban, who is a director of Dell Technologies and Co-CEO/Managing Member of Silver Lake Group, L.L.C.

Stakeholder Impact

• Shareholders may note the ongoing management of Dell Technologies holdings by Silver Lake entities and director Egon Durban, including internal distributions and minor sales.

Key Dates

Keywords

Dell Technologies, DELL, Silver Lake, Egon Durban, Form 4, Insider Trading, Beneficial Ownership, Share Distribution, Stock Sale, Private Equity