Form 4: Silver Lake Entities Reduce Stake in Dell Technologies Through Class C Common Stock Sales

Silver Lake and related entities executed a series of transactions involving the conversion of Class B Common Stock to Class C Common Stock and subsequent sales of Class C Common Stock of Dell Technologies on April 4, 2024.

Summary

• On April 4, 2024, Silver Lake and affiliated entities engaged in transactions involving Dell Technologies Inc. Class C Common Stock.
• The transactions included the conversion of Class B Common Stock into Class C Common Stock.
• Following the conversions, the entities sold shares of Class C Common Stock at weighted average prices ranging from $131.34 to $133.72.
• The sales were conducted in multiple transactions within the specified price ranges.
• The reporting persons have undertaken to provide full information regarding the number of shares sold at each separate price within the range set forth in the footnotes, upon request.
• The entities involved include SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., and Silver Lake Technology Investors IV, L.P., and Silver Lake Technology Investors V, L.P.
• These entities hold their securities both directly and indirectly through various general partners and managing members.
• Egon Durban, a director of Dell Technologies, is associated with Silver Lake Group, L.L.C. and may be deemed to have an indirect pecuniary interest in some of the shares.
• The filing indicates that the reporting persons are jointly filing the Form 4 and disclaim beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions, with no inherent positive or negative sentiment. It simply reports the facts of the transactions.

Industry Context

Private equity firms like Silver Lake often adjust their holdings in portfolio companies like Dell Technologies as part of their investment strategy, which can involve taking profits or rebalancing their portfolios.

Stakeholder Impact

• The sale of shares by Silver Lake could potentially influence the market perception of Dell Technologies.
• Significant transactions by major shareholders are often monitored by other investors.

Key Dates