Summary
Dell Technologies Inc. filed an 8-K report on January 8, 2020, disclosing the exercise of a stock option by its Chairman and CEO, Michael Dell. This transaction involved the issuance of 3,209,091 shares of Class A common stock to Mr. Dell at an exercise price of $13.75 per share, resulting in gross proceeds of approximately $44.1 million for the company. This specific option, granted in 2013, was for a total of 10,909,091 shares, with the initial portion exercised in December 2019. The recent exercise on January 8, 2020, represents the final portion of this option, meaning no further shares are available for purchase under this particular award. The issuance was conducted under a private offering exemption, indicating it was not registered with the SEC.
Key Highlights
- 1Michael Dell exercised the remaining portion of a 2013 stock option on January 8, 2020.
- 23,209,091 shares of Class A common stock were issued to Michael Dell.
- 3The exercise price was $13.75 per share.
- 4Dell Technologies received approximately $44.1 million in gross proceeds from this exercise.
- 5This transaction concludes the option granted in 2013, with no further shares available under this award.
- 6The stock issuance was made in reliance on the private offering exemption (Section 4(a)(2) of the Securities Act of 1933).