Silver Lake Group, L.L.C.'s Form 4 filing
Dell Technologies Inc. (DELL) · filed Jul 13, 2023
- Accession no.
- 0000899243-23-017392
- Filed
- Jul 13, 2023, 5:43 PM ET
- Trade date
- Jul 11-13, 2023
- Filing delay
- 2 days
- Rule 10b5-1 plan
- Not checked
This filing lists 16 non-derivative transactions and 5 derivative transactions. Open-market sales total $196.3M. It was filed 2 days after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Silver Lake Group, L.L.C.CIK 0001418226 | Director, 10% Owner |
| Silver Lake Partners IV, L.P.CIK 0001552054 | Director, 10% Owner |
| Durban EgonCIK 0001651403 | Director, 10% Owner |
| Silver Lake Technology Investors IV, L.P.CIK 0001672565 | Director, 10% Owner |
| Silver Lake Technology Associates IV, L.P.CIK 0001672566 | Director, 10% Owner |
| Slta IV (GP), L.L.C.CIK 0001672568 | Director, 10% Owner |
| SL SPV-2, L.P.CIK 0001767114 | Director, 10% Owner |
| Slta SPV-2, L.P.CIK 0001767115 | Director, 10% Owner |
| Slta SPV-2 (GP), L.L.C.CIK 0001767116 | Director, 10% Owner |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Jul 11, 2023 | Class C Common Stock | MOption exerciseAcquired | +1,811,176 | –F1 | – | 1,811,176 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | MOption exerciseAcquired | +1,859,263 | –F1 | – | 1,859,263 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | MOption exerciseAcquired | +1,006,417 | –F1 | – | 1,006,417 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | MOption exerciseAcquired | +27,356 | –F1 | – | 27,356 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | MOption exerciseAcquired | +12,336 | –F1 | – | 12,336 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | SSaleDisposed | −1,217,216 | $55.36F16 | −$67,382,034.72 | 593,960 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | SSaleDisposed | −1,489,351 | $55.36F16 | −$82,446,747.98 | 369,912 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | SSaleDisposed | −782,741 | $55.36F16 | −$43,330,584.91 | 223,676 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | SSaleDisposed | −27,356 | $55.36F16 | −$1,514,359.77 | 0 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | SSaleDisposed | −12,336 | $55.36F16 | −$682,890.12 | 0 | Indirect | Duplicate filing |
| Jul 12, 2023 | Class C Common Stock | JOtherDisposed | −593,960 | –F1 | – | 0 | Indirect | Duplicate filing |
| Jul 12, 2023 | Class C Common Stock | JOtherDisposed | −369,912 | –F1 | – | 0 | Indirect | Duplicate filing |
| Jul 12, 2023 | Class C Common Stock | JOtherDisposed | −223,676 | –F1 | – | 0 | Indirect | Duplicate filing |
| Jul 12, 2023 | Class C Common Stock | SSaleDisposed | −11,307 | $54.35F17 | −$614,527.54 | 7,538 | Indirect | Duplicate filing |
| Jul 12, 2023 | Class C Common Stock | SSaleDisposed | −6,584 | $54.35F17 | −$357,835.79 | 4,390 | Indirect | Duplicate filing |
| Jul 13, 2023 | Class C Common Stock | JOtherDisposed | −154,715 | –F10 | – | 119,645 | Indirect | Duplicate filing |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Jul 11, 2023 | Class C Common Stock | MOption exerciseDisposed | −1,811,176 | $0.00 | $0 | 34,803,748 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | MOption exerciseDisposed | −1,859,263 | $0.00 | $0 | 35,727,797 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | MOption exerciseDisposed | −1,006,417 | $0.00 | $0 | 19,339,409 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | MOption exerciseDisposed | −27,356 | $0.00 | $0 | 525,675 | Indirect | Duplicate filing |
| Jul 11, 2023 | Class C Common Stock | MOption exerciseDisposed | −12,336 | $0.00 | $0 | 237,050 | Indirect | Duplicate filing |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- 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 initiated a distribution on July 11, 2023, effective July 12, 2023, of shares of Class C Common Stock, par value $0.01 per share ("Class C Common Stock") of Dell Technologies Inc. (the "Issuer") to their respective partners and members as in-kind distributions and sold certain shares. The receipt of shares of Class C Common Stock by each of the Reporting Persons was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
Referenced by the price of 8 transactions in Table I.
- F10
On July 13, 2023, Silver Lake Group, L.L.C. ("SLG") distributed shares of Class C Common Stock to certain of its members as an in-kind distribution. Such shares were received in connection with the pro rata distributions made by SPV-2, SLP IV and SLP V and their respective affiliates described above and in prior years. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
Referenced by the price of 1 transaction in Table I.
- F16
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $55.302 to $55.8525, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Referenced by the price of 5 transactions in Table I.
- F17
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $54.295 to $54.47, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Referenced by the price of 2 transactions in Table I.
Remarks
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. Because no more than 10 reporting persons can file any one Form 4 through the Securities and Exchange Commission's EDGAR system, certain affiliates of the Reporting Persons have filed a separate Form 4.