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
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