DX.PD — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-10-27

• During the third quarter of 2026, financial markets experienced a significant repricing of interest rate risk,

• as U.S. Treasury and swap yields rose sharply, and both realized and implied interest rate volatility increased. The

• movement was global, reflecting heavy government borrowing and fiscal concerns, as well as substantial demand

• for capital tied to investment in artificial intelligence. Amid a resilient U.S. economy and persistent inflation, the

• Federal Reserve raised the midpoint of its target range for the U.S. Federal Funds Rate (“Fed Funds rate”) by 25

Text removed vs the prior filing · source: 10-Q · 2026-07-27

• During the second quarter of 2026, financial markets were comparatively calmer as realized volatility moderated from the elevated levels seen earlier in the year, even as investors continued to weigh the outlook for inflation, monetary policy, and global growth against ongoing geopolitical uncertain…

• Against this backdrop, Agency MBS continues to offer attractive long‑term return potential relative to other high‑quality fixed‑income assets, particularly given the supply dynamics, the sector's strong liquidity profile, and the potential for incremental GSE demand to provide support against episod…

• The charts below show the range of U.S. Treasury and SOFR-based swap rates for the six months ended June 30, 2026 and information regarding market spreads as of and for the periods indicated:

• (1)Option adjusted spreads (“OAS”) are based on Company estimates using third-party models and market data. OAS shown for prior periods may differ from previous disclosures because the Company regularly updates the third-party model used.

• (2)Data is sourced from J.P. Morgan and represents the spread to swap rate on newly issued Agency securities collateralized by multifamily properties.

Text added vs the prior filing · source: 10-Q · 2026-10-27

• Market risk is the exposure to losses resulting from changes in market factors. Our business strategy

• exposes us to a variety of market risks, including interest rate, spread, prepayment, credit, liquidity, and

• reinvestment risks. These risks can and do cause fluctuations in our liquidity, comprehensive income and book value

• Investing in interest-rate sensitive investments such as MBS and TBA securities subjects us to interest rate

• risk. Interest rate risk results from investing in securities with a fixed coupon or a floating coupon that may not

Text removed vs the prior filing · source: 10-Q · 2026-07-27

• Market risk is the exposure to losses resulting from changes in market factors. Our business strategy exposes us to a variety of market risks, including interest rate, spread, prepayment, credit, liquidity, and reinvestment risks. These risks can and do cause fluctuations in our liquidity, comprehen…

• Investing in interest-rate sensitive investments such as MBS and TBA securities subjects us to interest rate risk. Interest rate risk results from investing in securities with a fixed coupon or a floating coupon that may not immediately adjust for changes in interest rates. Interest rate risk also r…

• We manage interest rate risk within tolerances set by our Board of Directors. We use interest rate hedging instruments to mitigate the impact of changing interest rates on the market value of our assets and on our interest expense from repurchase agreements used to finance our investments. Our hedgi…

• We continuously monitor market conditions, economic conditions, interest rates, and other market activity and adjust the composition of our investments and hedges throughout any given period. As such, the projections for changes in market value provided below are limited in usefulness because the mo…

• Management evaluates changes in interest rate curves to manage portfolio interest rate risk and the market value of its investments and common equity. Because interest rates do not typically move in a parallel fashion from period to period (as can be seen by the graph for U.S. Treasury rates in Item…

Text added vs the prior filing · source: 10-Q · 2026-10-27

• Our management evaluated, with the participation of our co-principal executive officers and principal

• financial officer, the effectiveness of our disclosure controls and procedures, as defined in Exchange Act Rule

• 13a-15(e), as of the end of the period covered by this report. Based on that evaluation, our co-principal executive

• officers and principal financial officer concluded that, as of September 30, 2026, our disclosure controls and

• procedures were effective to ensure that information required to be disclosed in the reports that we file or submit

Text removed vs the prior filing · source: 10-Q · 2026-07-27

• Our management evaluated, with the participation of our co-principal executive officers and principal financial officer, the effectiveness of our disclosure controls and procedures, as defined in Exchange Act Rule 13a-15(e), as of the end of the period covered by this report. Based on that evaluatio…

• There were no changes in our internal control over financial reporting during the three months ended June 30, 2026 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Text added vs the prior filing · source: 10-Q · 2026-10-27

• To the Company’s knowledge, there are no pending or threatened legal proceedings, which, in

• management’s opinion, individually or in total, could have a material adverse effect on the Company’s results of

Text removed vs the prior filing · source: 10-Q · 2026-07-27

• To the Company’s knowledge, there are no pending or threatened legal proceedings, which, in management’s opinion, individually or in total, could have a material adverse effect on the Company’s results of operations or financial condition.

Text added vs the prior filing · source: 10-Q · 2026-10-27

• During the three months ended September 30, 2026, none of the Company’s directors or Section 16 officers

• adopted or terminated any “Rule 10b5-1 trading arrangements” or any “non-Rule 10b5-1 trading arrangements” (in

• On October 27, 2026, Dynex Capital, Inc. (the “Company”) amended its employment agreement with each

• of Byron L. Boston and Smriti L. Popenoe (collectively, the “Amendments”). The Amendments modify their

• existing employment agreement, each dated July 19, 2024 (collectively, the “Employment Agreements”), as follows:

Text removed vs the prior filing · source: 10-Q · 2026-07-27

• During the three months ended June 30, 2026, none of the Company’s directors or Section 16 officers adopted or terminated any “Rule 10b5-1 trading arrangements” or any “non-Rule 10b5-1 trading arrangements” (in each case, as defined in Item 408 of Regulation S-K).