secwatch.observer — SEC 8-K summary
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Issuer:     DYNEX CAPITAL INC (DX)
CIK:        0000826675
Form:       8-K
Filed at:   2023-10-30T23:59:59+00:00
Accession:  0000826675-23-000103
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/826675/000082667523000103/0000826675-23-000103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/826675/000082667523000103/dx-20231027.htm
  HTML page:      https://secwatch.observer/filing/0000826675-23-000103

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer