Dynex Capital (DX) Co-CEO Smriti Popenoe buys 2,000 company shares

Rhea-AI Filing Summary

Dynex Capital director and Co-CEO Smriti Laxman Popenoe purchased 2,000 shares of common stock in an open-market transaction at $12.19 per share. Following this purchase, she directly holds 550,626 shares, which the filing notes include unvested restricted stock units. She also reports indirect ownership of 4,780 shares held by her spouse and 325 shares held by her son.

Insider Trade Summary

Net Buyer: 2,000 shares ($24,380)

Net Buy 3 txns

Insider Popenoe Smriti Laxman

Role Co-CEO and President

Bought 2,000 shs ($24K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	2,000	$12.19	$24K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 550,626 shares (Direct); Common Stock — 4,780 shares (Indirect, By spouse)

Footnotes (1)

1. [object Object]

Key Figures

Shares purchased: 2,000 shares Purchase price: $12.19 per share Direct holdings after transaction: 550,626 shares +3 more

6 metrics

Shares purchased 2,000 shares Open-market purchase on February 27, 2026

Purchase price $12.19 per share Price paid for 2,000 Dynex Capital shares

Direct holdings after transaction 550,626 shares Common stock directly held, includes unvested RSUs

Indirect holdings by spouse 4,780 shares Common stock held indirectly through spouse

Indirect holdings by son 325 shares Common stock held indirectly through son

Net buy shares 2,000 shares Net buy direction per transaction summary

Key Terms

open-market purchase, restricted stock units, Common Stock, indirect

4 terms

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

restricted stock units financial

"Includes unvested restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Common Stock financial

""security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

indirect financial

""direct_or_indirect": "I""

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Popenoe Smriti Laxman

(Last) (First) (Middle)

C/O DYNEX CAPITAL, INC.

140 EAST SHORE DRIVE, SUITE 100

(Street)

GLEN ALLEN VIRGINIA 23059

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DYNEX CAPITAL INC [ DX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-CEO and President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/27/2026		P		2,000	A	$12.19	550,626(1)	D
Common Stock								4,780	I	By spouse
Common Stock								325	I	By son

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes unvested restricted stock units.

Remarks:

	/s/ Michael Angelo, as attorney-in-fact for Smriti L. Popenoe	03/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Dynex Capital (DX) Co-CEO Smriti Popenoe do in this Form 4 filing?

Smriti Laxman Popenoe reported an open-market purchase of 2,000 Dynex Capital common shares. The shares were bought at $12.19 each, increasing her directly held position to 550,626 shares, which the filing states includes unvested restricted stock units.

How many Dynex Capital (DX) shares does Smriti Popenoe own after the reported transaction?

After the reported trade, Smriti Laxman Popenoe directly holds 550,626 Dynex Capital common shares. The filing specifies that this direct holding includes unvested restricted stock units, reflecting both currently vested shares and certain equity awards not yet fully vested.

At what price were the Dynex Capital (DX) shares purchased in this Form 4?

The Form 4 shows an open-market purchase of 2,000 Dynex Capital common shares at $12.19 per share. This per-share price is the transaction price disclosed for the trade dated February 27, 2026, and applies to the full 2,000-share purchase.

Does Smriti Popenoe report any indirect ownership of Dynex Capital (DX) shares?

Yes. In addition to her direct holdings, Smriti Laxman Popenoe reports 4,780 Dynex Capital shares indirectly owned by her spouse and 325 shares indirectly owned by her son. These indirect positions are disclosed separately from her directly held 550,626 shares.

What does the footnote about restricted stock units mean in the Dynex Capital (DX) filing?

The footnote explains that the reported direct share total includes unvested restricted stock units. This means some of the 550,626 directly reported Dynex Capital shares represent equity awards that have been granted but have not yet fully vested under their award terms.