According to the latest Form 4, Dell Technologies Inc. (DELL) major shareholder and director Silver Lake Partners V DE (AIV), L.P. and its affiliates executed a series of transactions on September 15, 2026. The reporting person effected an “M” transaction, converting 38,740 shares of Class B Common Stock into an equal number of Class C Common Stock. On the same day, they subsequently conducted multiple “S” transactions, cumulatively selling 22,933 shares of Class C Common Stock at weighted‑average prices ranging from approximately $542.23 to $565.00 per share. Following these transactions, 62,977 shares of Class C Common Stock are indirectly held through Silver Lake Partners V DE (AIV), L.P., while they continue to hold a substantial position in Class B Common Stock. This activity reflects staged monetization and capital structure management by a private equity sponsor and director. In the short term, it may be perceived as additional supply and mildly bearish flow, but it does not necessarily signal a negative view of Dell’s underlying fundamentals.