Dynex Capital (DX) Co-CEO Byron Boston receives 136,006-share equity award

Rhea-AI Filing Summary

BOSTON BYRON L reported acquisition or exercise transactions in this Form 4 filing.

Dynex Capital Inc. director and Co-CEO Byron L. Boston reported an equity grant of 136,006 shares of common stock on March 4, 2026. The award consists of restricted stock units granted under Dynex Capital's 2025 Stock and Incentive Plan and carries no stated purchase price.

According to the filing, these units will vest in three equal installments on February 28, 2027, February 28, 2028, and February 28, 2029. After this grant, Boston directly holds 899,234 shares of common stock, a figure that includes unvested restricted stock units. He also reports indirect holdings through family members, including shares held jointly by his spouse and son and by each of his sons individually.

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

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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^*

BOSTON BYRON L

(Last) (First) (Middle)

C/O DYNEX CAPITAL, INC.

140 EAST SHORE DRIVE, SUITE 100

(Street)

GLEN ALLEN VA 23059

(City) (State) (Zip)

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 & Chairman of the Board

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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

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

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

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	03/04/2026		A		136,006(1)	A	$0	899,234(2)	D
Common Stock								3,095	I	By spouse and son jointly
Common Stock								1,500	I	By son
Common Stock								1,500	I	By 2nd 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. Restricted stock units granted under Dynex Capital's 2025 Stock and Incentive Plan. The units will vest equally over a 3 year period with vesting dates of February 28, 2027, February 28, 2028, and February 28, 2029.

2. Includes unvested restricted stock units.

Remarks:

	/s/ Michael Angelo, as attorney-in-fact for Byron L. Boston	03/06/2026
	** 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.

FAQ

What did Byron L. Boston report in the latest Dynex Capital (DX) Form 4 filing?

Byron L. Boston reported receiving 136,006 shares of Dynex Capital common stock as a restricted stock unit grant. The equity award was made under the company’s 2025 Stock and Incentive Plan and represents a non-cash grant tied to future vesting dates.

How do Byron L. Boston’s new restricted stock units at Dynex Capital (DX) vest?

The 136,006 restricted stock units vest in three equal installments over three years. Vesting dates are February 28, 2027, February 28, 2028, and February 28, 2029, linking Boston’s compensation to longer-term company performance and continued service.

How many Dynex Capital (DX) shares does Byron L. Boston hold after this Form 4 grant?

After the reported grant, Byron L. Boston directly holds 899,234 shares of Dynex Capital common stock. This direct holding total includes unvested restricted stock units, reflecting both already-vested shares and equity awards that will vest in the future.

Are Byron L. Boston’s Dynex Capital (DX) holdings only direct, or also indirect?

In addition to his direct holdings, Byron L. Boston reports indirect ownership of Dynex Capital shares. These indirect positions are held by his spouse and son jointly, and separately by each of his sons, reflecting family-related beneficial ownership in the company’s common stock.

Was cash paid for Byron L. Boston’s 136,006 Dynex Capital (DX) restricted stock units?

The reported transaction price per share for the 136,006 restricted stock units is shown as $0.00. This indicates the award was a grant under Dynex Capital’s 2025 Stock and Incentive Plan rather than an open-market purchase for cash consideration.

What is the transaction code used in Byron L. Boston’s Dynex Capital (DX) Form 4?

The Form 4 lists the transaction code as “A,” which denotes a grant, award, or other acquisition. This code confirms the 136,006 shares were received as an equity award instead of being bought or sold in a market transaction.