Dell Technologies Inc. reported on September 17, 2024, that it has issued 26,500,000 shares of Class C common stock upon the conversion of an equal number of shares of Class A common stock held by Michael Dell. This transaction took place over two days, September 16 and 17. Following the conversion, Michael Dell's beneficial ownership includes 271,834,081 shares of Class A Common Stock and 36,912,241 shares of Class C Common Stock. The report also notes that shares held by Susan Lieberman Dell Separate Property Trust and Susan L. Dell are excluded from Mr. Dell's beneficial ownership. After the conversion, the total outstanding shares of Class C Common Stock in the company amounted to 333,874,468. The conversion rights are stipulated in the company's certificate of incorporation...Show More

Dell Technologies Inc. reported on September 17, 2024, that it has issued 26,500,000 shares of Class C common stock upon the conversion of an equal number of shares of Class A common stock held by Michael Dell. This transaction took place over two days, September 16 and 17. Following the conversion, Michael Dell's beneficial ownership includes 271,834,081 shares of Class A Common Stock and 36,912,241 shares of Class C Common Stock. The report also notes that shares held by Susan Lieberman Dell Separate Property Trust and Susan L. Dell are excluded from Mr. Dell's beneficial ownership. After the conversion, the total outstanding shares of Class C Common Stock in the company amounted to 333,874,468. The conversion rights are stipulated in the company's certificate of incorporation, allowing Class A shareholders to convert their shares to Class C on a one-to-one basis. The shares of Class C Common Stock issued were not registered under the Securities Act of 1933 but were exempted under Section 3(a)(9). No commission was paid for the exchange of these securities, and future conversions are expected to follow the same exemption.