UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Michael S. Dell
One Dell Way
TX, Round Rock 78682
2. Issuer Name and Ticker or Trading Symbol
Dell Computer Corporation (DELL)
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
12/1999
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
Chairman of the Board, Chief Executive Officer
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |12/20/|M | |1920000 |A |$1.446 | |D | |
| 1999 | | | | | | | | |
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Common Stock |12/20/|M | |544000 |A |$1.809 | |D | |
| 1999 | | | | | | | | |
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Common Stock |12/20/|M | |1536000 |A |$0.982 | |D | |
| 1999 | | | | | | | | |
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Common Stock |12/20/|S | |2000000 |D |$47.5881 | |D | |
| 1999 | | | | | | | | |
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Common Stock |12/20/|S | |2000000 |D |$47.4336 | |D | |
| 1999 | | | | | | | | |
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Common Stock |12/21/|G |V|281800 |A |N/A | |D | |
| 1999 |1 | | | | | | | |
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Common Stock |12/22/|M | |1000000 |A |$1.809 | |D | |
| 1999 | | | | | | | | |
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Common Stock |12/23/|G |V|5400000 |D |N/A | |D | |
| 1999 | | | | | | | | |
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Common Stock |12/31/|J | |401053 |D |$49.8688 |314209688 |D | |
| 1999 |2 | | | | | | | |
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Common Stock | | | | | | |6080000 |I |By Spousal Trust 3 |
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Common Stock |12/21/|G |V|281800 |D |N/A |38309112 |I |By Spouse 3,4 |
| 1999 |1 | | | | | | | |
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Common Stock | | | | | | |4058000 |I |By Trust 3 |
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Common Stock | | | | | | |98878 |I |Employer 401(k) Plan |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Nonqualified Stock Opt|$0.982 |12/20|M | |1536000 |D |5 |7/24/|Common Stock|1536000|N/A |384000 |D | |
ions | |/ 199| | | | | |05 | | | | | | |
| |9 | | | | | | | | | | | | |
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Nonqualified Stock Opt|$1.446 |12/20|M | |1920000 |D |6 |7/11/|Common Stock|1920000|N/A |1280000 |D | |
ions | |/ 199| | | | | |06 | | | | | | |
| |9 | | | | | | | | | | | | |
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Nonqualified Stock Opt|$1.809 |12/20|M | |544000 |D |7 |8/9/0|Common Stock|544000 |N/A | |D | |
ions | |/ 199| | | | | |6 | | | | | | |
| |9 | | | | | | | | | | | | |
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Nonqualified Stock Opt|$1.809 |12/22|M | |1000000 |D |7 |8/9/0|Common Stock|1000000|N/A |8056000 |D | |
ions | |/ 199| | | | | |6 | | | | | | |
| |9 | | | | | | | | | | | | |
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Nonqualified Stock Opt|$4.633 | | | | | |8 |3/5/0|Common Stock| | |8000000 |D | |
ions | | | | | | | |7 | | | | | | |
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Nonqualified Stock Opt|$9.26 | | | | | |9 |7/18/|Common Stock| | |4800000 |I |By Trust 10 |
ions | | | | | | | |07 | | | | | | |
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Nonqualified Stock Opt|$16.672 | | | | | |11 |3/5/0|Common Stock| | |8000000 |I |By Trust 10 |
ions | | | | | | | |8 | | | | | | |
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Nonqualified Stock Opt|$28.899 | | | | | |12 |7/17/|Common Stock| | |4800000 |I |By Trust 10 |
ions | | | | | | | |08 | | | | | | |
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| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
1. Transfer from spouse's separate property trust to the reporting person.
2. Nontaxable transfer of shares to a diversified and professional investment
management fund in exchange for interests therein.
3. Pursuant to Rule 16a-1 promulgated under the Securities Act of 1934,
Michael S. Dell declares that the filing of this Form 4 shall not be construed
as an admission that he is the beneficial owner of these shares of common stock.
4. Owned through a separate property trust.
5. Exercisable on 7/24/00.
6. Exercisable in accordance with the following schedule: 640,000 shares on
7/11 of each year from 2000 through 2001.
7. Exercisable in accordance with the following schedule: 3,840,000 shares on
8/9 of each year from 2000 through 2001.
8. Exercisable in accordance with the following schedule: 1,600,000 shares on
3/5 of each year from 1998 through 2002.
9. Exercisable in accordance with the following schedule: 960,000 shares on
7/18 of each year from 1998 through 2002.
10. Options are held by trusts of which the reporting person or his spouse is
the trustee for the benefit of their children.
11. Exercisable in accordance with the following schedule: 1,600,000 shares on
3/5 of each year from 1999 through 2003.
12. Exercisable in accordance with the following schedule: 960,000 shares on
7/17 of each year from 2001 through 2005.
