---
schema_version: "secwatch.filing_event.v1"
accession: "0000826675-23-000103"
form_type: "8-K"
ticker: "DX"
cik: "0000826675"
company_name: "DYNEX CAPITAL INC"
filed_at: "2023-10-30T23:59:59+00:00"
generated_at: "2026-06-09T06:23:40.396357+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Dynex Capital enters new employment agreements; CEO base $900K, President base $800K

## Summary
- New 3-year agreements for CEO Byron Boston and President Smriti Popenoe effective Oct 27, 2023.
- Minimum target annual cash incentive set at 200% of base salary; maximum at 400%.
- Long-term incentive targets: Boston $3.1M, Popenoe $2.2M per year.
- Severance provides 2x base plus average bonus on non-cause termination outside change of control.
- Non-compete applies 6-24 months depending on termination type; clawback provisions included.

## SEC filing metadata
- accession: 0000826675-23-000103
- form_type: 8-K
- ticker: DX
- cik: 0000826675
- company_name: DYNEX CAPITAL INC
- filed_at: 2023-10-30T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/826675/000082667523000103/0000826675-23-000103-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/826675/000082667523000103/dx-20231027.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000826675-23-000103
- JSON: https://secwatch.observer/filing/0000826675-23-000103.json
- Plain text: https://secwatch.observer/filing/0000826675-23-000103.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.