Menlo Park, CA – A recent disclosure reveals that entities linked to private equity firm Silver Lake, including Dell Technologies Inc. (NASDAQ:DELL) director Egon Durban, have reduced their position in the technology company. On June 10, 2026, these parties sold a combined total of 412 shares of Dell Class C Common Stock. The transaction was executed at prices ranging from $391.03 to $398.73 per share, resulting in a total value of approximately $162,735.
The primary actor in this transaction was Silver Lake Technology Investors V, L.P., which held the securities directly. Before the shares were sold, a conversion process took place where Class B Common Stock was transformed into an equal number of Class C Common Stock. The management structure of these entities involves Silver Lake Technology Associates V, L.P., with its general partner being SLTA V (GP), L.L.C. At the top of this hierarchy, Silver Lake Group, L.L.C. acts as the managing member of SLTA V (GP), L.L.C.
Egon Durban, who serves as a director at Dell Technologies and as the Co-CEO and Managing Member of Silver Lake Group, L.L.C., is listed among the reporting persons for these sales. The various Silver Lake entities involved are also classified as directors of Dell through deputization.
Following the completion of these sales, Silver Lake Technology Investors V, L.P. no longer holds any Class C Common Stock. However, other holdings remain within the network of reporting persons and their affiliates. Silver Lake Group, L.L.C. retains 9,359 shares of Class C Common Stock. Additionally, entities in which Mr. Durban may be deemed to have an indirect pecuniary interest hold 4,845 shares of Class C Common Stock. A significant portion of 164,214 shares is held by SLTA SPV-2, L.P., Silver Lake Technology Associates V, L.P., Silver Lake Group, L.L.C., and Silver Lake Secondary Holdings L.P. on behalf of certain employees and managing members of Silver Lake Group, L.L.C. or its affiliates.
Further details on direct and indirect holdings show that Mr. Durban directly holds 1,317,963 shares of Class C Common Stock. He also indirectly beneficially owns 47,234 shares through a trust established for the benefit of certain family members. Other Silver Lake affiliates, including SL SPV-2, L.P., Silver Lake Partners IV, L.P., and Silver Lake Partners V DE (AIV), L.P., hold an additional 116,509 shares, which are reported on separate Form 4 filings.
In the broader context of Dell's recent performance, the company reported impressive first-quarter fiscal 2027 results that surpassed expectations across all metrics. Total revenue reached $43.8 billion, marking an 88% increase year-over-year. Earnings per share achieved $4.86, significantly exceeding the anticipated $3 range. This strong financial performance has led several financial firms to adjust their outlook on Dell. Bernstein SocGen Group raised its price target for Dell to $500 from $280, maintaining an Outperform rating. Goldman Sachs increased its target to $500 from $230, keeping a Buy rating, citing strong AI demand. Truist Securities also raised its price target on Dell to $360 from $170, highlighting strong AI server demand and tight supply conditions.
Meanwhile, in the bond market, IBM’s bonds showed tighter trading compared to their technology sector peers. A 1.95% bond maturing in May 2030 yielded 46.5 basis points above Treasuries. The spread was 2.71 standard deviations tighter than the three-month average, according to Bloomberg’s Z-score analysis. Additionally, MSD Investment Corp. sold $300 million in investment-grade bonds to refinance debt, with the three-year notes yielding 2.4 percentage points above Treasuries. These recent developments reflect ongoing changes in the technology and investment sectors.