UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 11-K

 

(Mark One)

þ			ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the fiscal year ended December 31, 2023

 

OR

o			TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from                      to                     

Commission file number: 001-09819

 

A.			Full title of the plan and the address of the plan, if different from that of the issuer named below:

 

Dynex Capital, Inc. 401(k) Plan

(as restated effective October 3, 2016)

B.			Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

 

Dynex Capital, Inc.

4991 Lake Brook Drive, Suite 100

Glen Allen, Virginia 23060-9245

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Dynex Capital, Inc. 401(k) Plan

(as restated effective October 3, 2016)

Glen Allen, Virginia 23060-9245

 

Table of Contents

 

Items 1-3			1
Item 4			1
Statements of Net Assets Available for Benefits			2
Statement of Changes in Net Assets Available for Benefits			3
Signatures			4

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Required Information

Items 1-3.  The Dynex Capital, Inc. 401(k) Plan (as restated effective October 3, 2016) (the “Plan”) is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). Therefore, in lieu of the requirements of Items 1-3 of Form 11-K, attached are the financial statements of the Plan as of and for the fiscal year ended December 31, 2023, which have been prepared in accordance with the financial reporting requirements of ERISA.

Item 4.  Pursuant to Sections 103 and 104 of ERISA, and the regulations thereunder, the Plan is not required to file audited financial statements because the Plan has fewer than 100 participants.

 

1

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Dynex Capital, Inc. 401(k) Plan

(as restated effective October 3, 2016)

Statements of Net Assets Available for Benefits

						December 31, 2023						December 31, 2022
Assets
Mutual funds						$	10,784,485					$	9,855,446
Corporate stocks (employer stock)						745,120						1,053,636
Participant loan receivable						72,900						58,982
Total assets						11,602,505						10,968,064
Liabilities
Other liabilities						—						—
Total liabilities						—						—
Net assets available for benefits						$	11,602,505					$	10,968,064

2

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Dynex Capital, Inc. 401(k) Plan

(as restated effective October 3, 2016)

Statement of Changes in Net Assets Available for Benefits

			Year Ended
			December 31,
			2023
Additions to net assets:
Contributions – Employer			$	262,520
Contributions – Participant			372,847
Contributions – Other			43,717
Net appreciation in fair value of investments			1,538,280
Interest and dividends			301,556
Interest on participant loans			4,221
Total additions to net assets			2,523,141
Deductions from net assets:
Benefits paid to participants			1,862,845
Administrative expenses			25,855
Total deductions from net assets			1,888,700
Increase in net assets available for benefits			634,441
Net assets available for benefits:
Beginning of year			10,968,064
End of year			$	11,602,505

3

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the administrators of the Dynex Capital, Inc. 401(k) Plan (as restated effective October 3, 2016) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

						DYNEX CAPITAL, INC. 401(k) PLAN (as restated effective October 3, 2016)
Date: June 21, 2024			By:			/s/ Robert S. Colligan
						Robert S. Colligan Executive Vice President & Chief Financial Officer Dynex Capital, Inc., Plan Administrator

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