Dynex Capital (DX) executive compensation, 2026 proxy

Byron L. Boston, Co-Chief Executive Officer and Chairman of the Board, was paid $7.8M in 2025, up 8% from $7.2M the year before. The CEO-to-median-employee pay ratio was 51:1, on median employee pay of $152,475.

Filed
April 7, 2026
Annual meeting
May 21, 2026
Pay year
2025
Named executives
3
CEO total pay
$7.8M+8% vs prior year
CEO to median employee
51:1median $152,475
CEO pay in equity
40%$3.1M in awards
Prior say-on-pay support
95%of votes cast
2025 Total Economic Return
21.6%Shareholder return metric
2025 Net Income
$308.9MGAAP net income to common shareholders
2025 Dividends Per Share
$2.00Declared per common share
CEO Target Bonus
$1,800,000Under Cash Incentive Plan

How Boston was paid

$7.8M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary12%Stock awards40%Non-equity incentive41%All other compensation7%

Named executive officers

ExecutiveTotal
Byron L. BostonCo-Chief Executive Officer and Chairman of the Board$7,771,011
Smriti L. PopenoeCo-Chief Executive Officer and President$7,675,275
Robert S. ColliganSenior Advisor to the Co-CEOs (former Chief Financial Officer)$3,717,639

What changed and why

  • $7.8MCEO total compensation increased to $7,771,011 in fiscal 2025.
  • 21.6%Total economic return to common shareholders reached 21.6% for 2025.
  • $308.9MNet income to common shareholders rose to $308.9 million for the year.
  • $2.00Dividends declared per common share increased to $2.00 for the year.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.