Dell Technologies 4: Silver Lake's $28M share sale (Oct 14, 2026)

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-10-09 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: Dell Technologies Inc. (DELL) CIK: 0001571996 --- Reporting Owner --- Name: Silver Lake Partners IV, L.P. CIK: 0001552054 Role: Director, 10%+ Owner --- Non-Derivative Transactions --- [Transaction #1] Security: Class C Common Stock Date: 2026-10-09 | Code: M (Exercise of derivative) Shares: +67,641 Shares Owned After: 87,402 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F1] Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. 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 9, 2026 and initiated in-kind distributions of shares of Class C Common Stock on October 9, 2026. 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 9, 2026, 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. [F1] Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. 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 9, 2026 and initiated in-kind distributions of shares of Class C Common Stock on October 9, 2026. 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 9, 2026, 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 held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #2] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -2,164 | Price: $572.87 Total Value: $1,239,690.68 Shares Owned After: 85,238 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F10] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $572.6200 to $573.0800 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #3] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -984 | Price: $574.71 Total Value: $565,514.64 Shares Owned After: 84,255 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F11] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $573.8200 to $574.7900 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #4] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -5,614 | Price: $575.42 Total Value: $3,230,407.88 Shares Owned After: 78,640 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F12] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $574.8900 to $575.8809 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #5] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -2,379 | Price: $576.34 Total Value: $1,371,112.86 Shares Owned After: 76,261 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F13] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $575.8900 to $576.8800 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #6] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -2,728 | Price: $577.25 Total Value: $1,574,738.00 Shares Owned After: 73,533 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F14] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $576.9000 to $577.8500 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #7] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -1,501 | Price: $578.28 Total Value: $867,998.28 Shares Owned After: 72,033 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F15] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $577.9200 to $578.9000 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #8] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -1,600 | Price: $579.58 Total Value: $927,328.00 Shares Owned After: 70,432 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F16] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $579.0000 to $579.9300 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #9] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -1,317 | Price: $580.37 Total Value: $764,347.29 Shares Owned After: 69,115 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F17] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $580.0000 to $580.8200 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #10] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -2,617 | Price: $581.59 Total Value: $1,522,021.03 Shares Owned After: 66,498 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F18] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $581.0000 to $581.9900 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #11] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -1,704 | Price: $582.49 Total Value: $992,562.96 Shares Owned After: 64,794 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F19] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $582.0000 to $582.9000 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #12] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -2,514 | Price: $583.44 Total Value: $1,466,768.16 Shares Owned After: 62,280 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F20] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $583.0000 to $583.9800 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #13] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -2,025 | Price: $584.46 Total Value: $1,183,531.50 Shares Owned After: 60,255 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F21] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $584.0000 to $584.9900 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #14] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -5,464 | Price: $585.54 Total Value: $3,199,390.56 Shares Owned After: 54,791 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F22] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $585.0000 to $585.9949 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #15] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -7,207 | Price: $586.53 Total Value: $4,227,121.71 Shares Owned After: 47,583 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F23] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $586.0000 to $586.9976 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #16] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -3,226 | Price: $587.26 Total Value: $1,894,500.76 Shares Owned After: 44,357 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F24] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $587.0000 to $587.9960 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #17] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -2,353 | Price: $588.66 Total Value: $1,385,116.98 Shares Owned After: 42,004 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F25] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $588.0278 to $588.9900 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #18] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -3,257 | Price: $589.28 Total Value: $1,919,284.96 Shares Owned After: 38,747 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F26] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $589.0000 to $589.8300 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [Transaction #19] Security: Class C Common Stock Date: 2026-10-09 | Code: S (Open market sale) Shares: -1,800 | Price: $586.40 Total Value: $1,055,520.00 Shares Owned After: 1,404,569 | Ownership: D (Direct) Footnotes: [F27] The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $586.220 to $586.460 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. [F8] Represents shares of Class C Common Stock held directly by Mr. Durban, including shares received by Mr. Durban in connection with the distribution of shares of Class C Common Stock on October 9, 2026. The deemed receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. [Transaction #20] Security: Class C Common Stock Date: 2026-10-09 | Code: J (Other acquisition/disposition) Shares: -19,761 Shares Owned After: 18,986 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [F1] Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. 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 9, 2026 and initiated in-kind distributions of shares of Class C Common Stock on October 9, 2026. 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. [F1] Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. 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 9, 2026 and initiated in-kind distributions of shares of Class C Common Stock on October 9, 2026. 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. [F3] These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. --- Derivative Transactions --- [Transaction #1] Security: Class B Common Stock Date: 2026-10-09 | Code: M (Exercise of derivative) Shares: -67,641 | Price: $0.00 Shares Owned After: 16,245,713 | Ownership: I (Indirect) | Nature: Held through Silver Lake Partners IV, L.P. Footnotes: [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 9, 2026, 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. [F1] Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. 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 9, 2026 and initiated in-kind distributions of shares of Class C Common Stock on October 9, 2026. 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 9, 2026, 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. [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 9, 2026, 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. [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 9, 2026, 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 held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. --- Holdings --- [Holding #1] Security: Class C Common Stock Ownership: I (Indirect) Footnotes: [F4] Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. [F5] Reflects shares of Class C Common Stock held by SLG, including shares received in connection with the distribution of shares of Class C Common Stock described herein on October 9, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. [Holding #2] Security: Class C Common Stock Ownership: I (Indirect) Footnotes: [F6] These shares of Class C Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest, including shares received in connection with the distributions of shares of Class C Common Stock on October 9, 2026. 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. [Holding #3] Security: Class C Common Stock Ownership: I (Indirect) Footnotes: [F7] In connection with the distributions described in footnote (1) above, distributions of certain shares were initiated to certain employees and managing members of SLG or its affiliates, including Mr. Durban. This amount reflects 48,500, 148,194, 39,737 and 47,321 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P. and SLG, respectively, on behalf of such individuals, including shares distributed in the October 9, 2026 distributions. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. [Holding #4] Security: Class C Common Stock Ownership: I (Indirect) Footnotes: [F9] 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 9, 2026. 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. [Holding #5] Security: Class C Common Stock Ownership: I (Indirect) Footnotes: [F28] Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 21,486 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 11,119 shares of Class C Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 0 shares of Class C Common Stock and Silver Lake Technology Investors V, L.P. directly holds 0 shares of Class C Common Stock, which securities and transactions are reported on separate Form 4 filings. [Holding #6] Security: Class B Common Stock Ownership: I (Indirect) Footnotes: [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 9, 2026, 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. [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 9, 2026, 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. [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 9, 2026, 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. [F29] Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 15,825,543 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 8,793,784 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 239,027 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 107,788 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings. --- Footnotes (Complete Index) --- F1: Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. 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 9, 2026 and initiated in-kind distributions of shares of Class C Common Stock on October 9, 2026. 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. F10: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $572.6200 to $573.0800 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. F11: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $573.8200 to $574.7900 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. F12: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $574.8900 to $575.8809 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 $575.8900 to $576.8800 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. F14: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $576.9000 to $577.8500 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 $577.9200 to $578.9000 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 $579.0000 to $579.9300 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. F17: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $580.0000 to $580.8200 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. F18: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $581.0000 to $581.9900 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. F19: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $582.0000 to $582.9000 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. 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 9, 2026, 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. F20: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $583.0000 to $583.9800 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. F21: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $584.0000 to $584.9900 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. F22: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $585.0000 to $585.9949 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. F23: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $586.0000 to $586.9976 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. F24: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $587.0000 to $587.9960 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. F25: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $588.0278 to $588.9900 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. F26: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $589.0000 to $589.8300 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. F27: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $586.220 to $586.460 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. F28: Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 21,486 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 11,119 shares of Class C Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 0 shares of Class C Common Stock and Silver Lake Technology Investors V, L.P. directly holds 0 shares of Class C Common Stock, which securities and transactions are reported on separate Form 4 filings. F29: Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 15,825,543 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 8,793,784 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 239,027 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 107,788 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings. F3: These securities are held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C. F4: Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. Egon Durban, who serves as a director of the Issuer, also serves as the CEO and a Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer. F5: Reflects shares of Class C Common Stock held by SLG, including shares received in connection with the distribution of shares of Class C Common Stock described herein on October 9, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. F6: These shares of Class C Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest, including shares received in connection with the distributions of shares of Class C Common Stock on October 9, 2026. 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. F7: In connection with the distributions described in footnote (1) above, distributions of certain shares were initiated to certain employees and managing members of SLG or its affiliates, including Mr. Durban. This amount reflects 48,500, 148,194, 39,737 and 47,321 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P. and SLG, respectively, on behalf of such individuals, including shares distributed in the October 9, 2026 distributions. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. F8: Represents shares of Class C Common Stock held directly by Mr. Durban, including shares received by Mr. Durban in connection with the distribution of shares of Class C Common Stock on October 9, 2026. The deemed receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act. F9: 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 9, 2026. 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. --- Signature --- /s/ By: /s/ Justin G. Hamill, Chief Legal Officer of Silver Lake Group, L.L.C., managing member of SLTA IV (GP), L.L.C., general partner of Silver Lake Technology Associates IV, L.P., general partner of Silver Lake Partners IV, L.P. (2026-10-14)