Annual Report of Employee Stock Plans (11-k)

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, 2018

 

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: 1-9819

 

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	1
Item 4	1
Statement of Plan Assets and Liabilities	2
Statement of Income and Expenses	3
Signatures	4

---

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, 2018, 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

---

Dynex Capital, Inc. 401(k) Plan

(as restated effective October 3, 2016)

Statement of Plan Assets and Liabilities

		December 31, 2018				December 31, 2017
PLAN ASSETS
Mutual Funds		$	5,465,528			$	5,404,885
Corporate Stocks (Employer Stock)		738,981				797,188
Participant Loan Receivable		3,210				—
Total Plan Assets		6,207,719				6,202,073
PLAN LIABILITIES
Other Liabilities		—				—
Total Plan Liabilities		—				—
NET PLAN ASSETS		$	6,207,719			$	6,202,073

2

---

Dynex Capital, Inc. 401(k) Plan

(as restated effective October 3, 2016)

Statement of Income and Expenses

	Year Ended
	December 31,
	2018
INCOME
Contributions – Company Matching	$	182,718
Contributions – Participant	243,876
Net Depreciation in Fair Value of Investments	(671,412		)
Interest and Dividends	274,549
Interest on Participant Loans	112
Total Income	29,843
EXPENSES
Payments to Participants	614
Administrative Expenses	23,583
Total Expenses	24,197
NET INCOME	5,646
Net Plan Assets, Beginning of Year	6,202,073
Net Plan Assets, End of Year	$	6,207,719

3

---

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 28, 2019	By:	/s/ Stephen J. Benedetti
		Stephen J. Benedetti Executive Vice President, Chief Financial Officer & Chief Operating Officer Dynex Capital, Inc., Plan Administrator

4