NYSE: DELL Dell Technologies Inc. 8-K

Dell discloses routine Class B to Class C share conversion by Silver Lake entities

Filed April 20, 2026 · Period ending April 15, 2026 · ~1 min read

Key Changes

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Silver Lake entities converted 4.2M Class B shares to Class C shares across eight dates in March-April 2026, a routine action permitted under Dell's charter with no economic impact.

Item 3.02 — Unregistered Sales of Equity Securities verify on EDGAR →
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As of April 17, 2026, Dell has 325.7M Class C shares and 47.8M Class B shares outstanding following the conversions.

Item 3.02 — Unregistered Sales of Equity Securities verify on EDGAR →

Summary

Dell Technologies filed a routine 8-K disclosing that Silver Lake-affiliated entities converted 4.2 million Class B common shares into Class C common shares on a one-for-one basis over eight transaction dates between March 2 and April 16, 2026.

This conversion is a standard feature of Dell's capital structure, where Class B holders can elect to convert to Class C at any time under the company's certificate of incorporation. The conversion has no economic impact—it simply shifts shares between classes without changing total equity, voting rights structure, or shareholder value. For retail investors, this is purely administrative.

The conversion doesn't signal any change in Silver Lake's economic stake or Dell's business fundamentals. Class B and Class C shares have identical economic rights; the distinction relates primarily to voting and governance matters. Watch for any future disclosures about Silver Lake's overall ownership percentage or any material sales of the converted Class C shares, which would indicate a change in the investment firm's long-term commitment to Dell.