Dell Technologies Inc. — Director's Dealing 2025

Oct 3, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dell Technologies Inc. (DELL)
CIK: 0001571996
Period of Report: 2025-10-01

Reporting Person: SLTA V (GP), L.L.C. (N/A)
Reporting Person: Silver Lake Technology Associates V, L.P. (N/A)
Reporting Person: Silver Lake Partners V DE (AIV), L.P. (N/A)
Reporting Person: Silver Lake Technology Investors V, L.P. (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-10-01	Class C Common Stock	M	267571	—	Acquired	267571	Indirect
2025-10-01	Class C Common Stock	M	274674	—	Acquired	274674	Indirect
2025-10-01	Class C Common Stock	M	148681	—	Acquired	148681	Indirect
2025-10-01	Class C Common Stock	M	4041	—	Acquired	4041	Indirect
2025-10-01	Class C Common Stock	M	1822	—	Acquired	1822	Indirect
2025-10-01	Class C Common Stock	S	40541	$145.54	Disposed	227030	Indirect
2025-10-01	Class C Common Stock	S	46723	$145.54	Disposed	227951	Indirect
2025-10-01	Class C Common Stock	S	23968	$145.54	Disposed	124713	Indirect
2025-10-01	Class C Common Stock	S	892	$145.54	Disposed	3149	Indirect
2025-10-01	Class C Common Stock	S	402	$145.54	Disposed	1420	Indirect
2025-10-01	Class C Common Stock	S	64788	$146.34	Disposed	162242	Indirect
2025-10-01	Class C Common Stock	S	74667	$146.34	Disposed	153284	Indirect
2025-10-01	Class C Common Stock	S	38303	$146.34	Disposed	86410	Indirect
2025-10-01	Class C Common Stock	S	1425	$146.34	Disposed	1725	Indirect
2025-10-01	Class C Common Stock	S	642	$146.34	Disposed	777	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-10-01	Class B Common Stock	$	M	267571	Disposed		Class C Common Stock (267571)	Indirect
2025-10-01	Class B Common Stock	$	M	274674	Disposed		Class C Common Stock (274674)	Indirect
2025-10-01	Class B Common Stock	$	M	148681	Disposed		Class C Common Stock (148681)	Indirect
2025-10-01	Class B Common Stock	$	M	4041	Disposed		Class C Common Stock (4041)	Indirect
2025-10-01	Class B Common Stock	$	M	1822	Disposed		Class C Common Stock (1822)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class C Common Stock	206873	Indirect
Class C Common Stock	1132134	Direct
Class C Common Stock	45396	Indirect

Footnotes

F1: SL SPV-2, L.P. ("SPV-2"), Silver Lake Partners IV, L.P. ("SLP IV"), Silver Lake Partners V DE (AIV), L.P. ("SLP V") and certain of their respective affiliates sold certain shares of Class C Common Stock, par value $0.01 per share ("Class C Common Stock") of Dell Technologies Inc. (the "Issuer") on October 1, 2025 and initiated in-kind distributions of shares of Class C Common Stock on October 2, 2025. The receipt of shares of Class C Common Stock by each of the Reporting Persons in connection with such distributions was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.

F2: Each share of Class B Common Stock, par value $0.01 per share of the Issuer (the "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. On October 1, 2025, certain of the Reporting Persons converted shares of Class B Common Stock into an equal number of shares of Class C Common Stock in connection with the sales and distributions described in footnote (1) above.

F3: These securities are directly held by SPV-2. The general partner of SPV-2 is SLTA SPV-2, L.P. ("SLTA SPV") and the general partner of SLTA SPV is SLTA SPV-2 (GP), L.L.C. ("SLTA SPV GP").

F4: These securities are directly held by SLP IV. The general partner of SLP IV is Silver Lake Technology Associates IV, L.P. ("SLTA IV") and the general partner of SLTA IV is SLTA IV (GP), L.L.C. ("SLTA IV GP").

F5: These securities are directly held by SLP V. The general partner of SLP V is Silver Lake Technology Associates V, L.P. ("SLTA V") and the general partner of SLTA V is SLTA V (GP), L.L.C. ("SLTA V GP").

F6: These securities are directly held by Silver Lake Technology Investors IV, L.P. The general partner of Silver Lake Technology Investors IV, L.P. is SLTA IV and the general partner of SLTA IV is SLTA IV GP.

F7: These securities are directly held by Silver Lake Technology Investors V, L.P. The general partner of Silver Lake Technology Investors V, L.P. is SLTA V and the general partner of SLTA V is SLTA V GP.

F8: Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA SPV GP, SLTA IV GP and SLTA V GP. Egon Durban, who serves as a director of the Issuer, also serves as a Co-CEO and Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer.

F9: In connection with the distributions described in footnote (1) above, pro rata distributions of certain shares were initiated to certain employees and managing members of SLG or its affiliates, including Egon Durban. This amount reflects 55,147, 31,825, 62 and 119,839 shares held by SLTA SPV-2, L.P., SLTA V, SLTA IV and SLG, respectively, on behalf of such individuals, including shares distributed in the October 2, 2025 distributions. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.

F10: Represents shares of Class C Common Stock held by Mr. Durban immediately following the receipt of shares in connection with the distributions of shares of Class C Common Stock on October 2, 2025. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.

F11: Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members, including shares received in connection with the distributions of shares of Class C Common Stock on October 2, 2025. The receipt of such shares of Class C Common Stock indirectly by Mr. Durban was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.

F12: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $144.9592 to $145.9590 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F13: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $145.9594 to $146.9582 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.