11-K 1 form11-k20231231.htm 11-K Document

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 11-K
 
(Mark One)
þANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the fiscal year ended December 31, 2023
 
OR
oTRANSITION 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



Dynex Capital, Inc. 401(k) Plan
(as restated effective October 3, 2016)
Glen Allen, Virginia 23060-9245




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




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.

 

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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, 2023December 31, 2022
Assets 
Mutual funds$10,784,485 $9,855,446 
Corporate stocks (employer stock)745,120 1,053,636 
Participant loan receivable72,900 58,982 
Total assets11,602,505 10,968,064 
Liabilities 
Other liabilities— — 
Total liabilities— — 
Net assets available for benefits$11,602,505 $10,968,064 

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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 – Participant372,847 
Contributions – Other43,717 
Net appreciation in fair value of investments1,538,280 
Interest and dividends301,556 
Interest on participant loans4,221 
Total additions to net assets2,523,141 
Deductions from net assets:
Benefits paid to participants1,862,845 
Administrative expenses25,855 
Total deductions from net assets1,888,700 
Increase in net assets available for benefits634,441 
Net assets available for benefits:
Beginning of year10,968,064 
End of year$11,602,505 
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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, 2024By:/s/ Robert S. Colligan
  Robert S. Colligan
Executive Vice President & Chief Financial Officer
Dynex Capital, Inc., Plan Administrator

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