Dell Technologies Inc. — Director's Dealing 2025

Jun 12, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dell Technologies Inc. (DELL)
CIK: 0001571996
Period of Report: 2025-06-09

Reporting Person: SLTA IV (GP), L.L.C. (N/A)
Reporting Person: Silver Lake Group, L.L.C. (N/A)
Reporting Person: Silver Lake Technology Associates IV, L.P. (N/A)
Reporting Person: Silver Lake Partners IV, L.P. (N/A)
Reporting Person: Silver Lake Technology Investors IV, L.P. (N/A)
Reporting Person: SLTA SPV-2 (GP), L.L.C. (N/A)
Reporting Person: SLTA SPV-2, L.P. (N/A)
Reporting Person: SL SPV-2, L.P. (N/A)
Reporting Person: Durban Egon (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-06-09	Class C Common Stock	M	165014	—	Acquired	165014	Indirect
2025-06-09	Class C Common Stock	M	186653	—	Acquired	186653	Indirect
2025-06-09	Class C Common Stock	M	96508	—	Acquired	96508	Indirect
2025-06-09	Class C Common Stock	M	3546	—	Acquired	3546	Indirect
2025-06-09	Class C Common Stock	M	1599	—	Acquired	1599	Indirect
2025-06-09	Class C Common Stock	S	94906	$114.74	Disposed	70108	Indirect
2025-06-09	Class C Common Stock	S	107351	$114.74	Disposed	79302	Indirect
2025-06-09	Class C Common Stock	S	55506	$114.74	Disposed	41002	Indirect
2025-06-09	Class C Common Stock	S	2039	$114.74	Disposed	1507	Indirect
2025-06-09	Class C Common Stock	S	920	$114.74	Disposed	679	Indirect
2025-06-09	Class C Common Stock	S	70069	$115.32	Disposed	39	Indirect
2025-06-09	Class C Common Stock	S	79258	$115.32	Disposed	44	Indirect
2025-06-09	Class C Common Stock	S	40980	$115.32	Disposed	22	Indirect
2025-06-09	Class C Common Stock	S	1506	$115.32	Disposed	1	Indirect
2025-06-09	Class C Common Stock	S	679	$115.32	Disposed	1	Indirect
2025-06-09	Class C Common Stock	S	39	$116.28	Disposed	0	Indirect
2025-06-09	Class C Common Stock	S	44	$116.28	Disposed	0	Indirect
2025-06-09	Class C Common Stock	S	22	$116.28	Disposed	0	Indirect
2025-06-09	Class C Common Stock	S	1	$116.28	Disposed	0	Indirect
2025-06-09	Class C Common Stock	S	1	$116.28	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-06-09	Class B Common Stock	$	M	165014	Disposed		Class C Common Stock (165014)	Indirect
2025-06-09	Class B Common Stock	$	M	186653	Disposed		Class C Common Stock (186653)	Indirect
2025-06-09	Class B Common Stock	$	M	96508	Disposed		Class C Common Stock (96508)	Indirect
2025-06-09	Class B Common Stock	$	M	3546	Disposed		Class C Common Stock (3546)	Indirect
2025-06-09	Class B Common Stock	$	M	1599	Disposed		Class C Common Stock (1599)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class C Common Stock	2800	Indirect
Class C Common Stock	46266	Indirect
Class C Common Stock	877339	Direct
Class C Common Stock	37313	Indirect
Class C Common Stock	2326	Indirect

Footnotes

F1: SL SPV-2, L.P. ("SPV-2"), Silver Lake Partners IV, L.P. ("SLP IV") and 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 June 9, 2025 and June 10, 2025.

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 June 9, 2025 and June 10, 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 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: Reflects shares held by Silver Lake Group, L.L.C. ("SLG").

F9: 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.

F10: This amount reflects 9,048, 4,040 and 33,178 shares held by SLTA SPV-2, L.P., SLTA V and SLG, respectively, on behalf of certain employees and managing members of SLG or its affiliates, including Mr. Durban.

F11: Represents shares of Class C Common Stock held by Mr. Durban.

F12: Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.

F13: These shares of Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest.

F14: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $114.22 to $115.219 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.

F15: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $115.22 to $116.20 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.

F16: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $116.26 to $116.28 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.