德尼克斯投资 2024年度报告

Commission File Number:001-09819 Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act.YesoNox Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subjectto such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and"emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.x If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ As of June 30, 2024, the aggregate market value of the common stock held by non-affiliates of the registrant was approximately $884,655,579based on the closing sales price on the New York Stock Exchange of $11.94. On February 25, 2025, the registrant had90,468,433shares outstanding of common stock, $0.01 par value, which is the registrant’s only classof common stock. DOCUMENTS INCORPORATED BY REFERENCE Portions of the Definitive Proxy Statement for the registrant’s 2025 Annual Meeting of Shareholders, expected to be filed pursuant toRegulation 14A within 120 days from December 31, 2024, are incorporated by reference into Part III of this Annual Report on Form 10-K tothe extent stated herein. DYNEX CAPITAL, INC.FORM 10-KTABLE OF CONTENTS PagePART I.Item 1.Business1Item 1A.Risk Factors9Item 1B.Unresolved Staff Comments23Item 1C.Cybersecurity23Item 2.Properties24Item 3.Legal Proceedings24Item 4.Mine Safety Disclosures24 Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities25Item 6.[Reserved]26Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations27Item 7A.Quantitative and Qualitative Disclosures About Market Risk34Item 8.Financial Statements and Supplementary Data38Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure38Item 9A.Controls and Procedures38Item 9B.Other Information39Item 9C.Disclosure Regarding Foreign Jurisdictions That Prevent Inspections39 Item 10.Directors, Executive Officers and Corporate Governance40Item 11.Executive Compensation40Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters41Item 13.Certain Relationships and Related Transactions, and Director Independence41Item 14.Principal Accountant Fees and Services41 CAUTIONARY STATEMENT – This Annual Report on Form 10-K contains “forward-looking” statements within the meaning of Section 27A ofthe Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“ExchangeAct”). We caution that such forward-looking statements we makeare not guarantees of future performance, and actual results may differmaterially from those expressed or implied in such forward-looking statements.Some factors that could cause actual results to differ materiallyfrom estimates expressed or implied in our forward-looking statements are set forth in this Annual Report on Form 10-K for the year endedDecember31, 2024.See Part I, Item