8-K: Current report filing
Published on February 8, 2008
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
___________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): February 4, 2008
___________
DYNEX
CAPITAL, INC.
(Exact
name of registrant as specified in its charter)
|
Virginia
(State
or other jurisdiction
of
incorporation)
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1-9819
(Commission
File Number)
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52-1549373
(IRS
Employer
Identification
No.)
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|
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4551
Cox Road, Suite 300
Glen
Allen, Virginia
(Address
of principal executive offices)
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23060
(Zip
Code)
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||
Registrant’s
telephone number, including area code: (804) 217-5800
Not
Applicable
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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1
Item
5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
On
February 4, 2008, the Board of Directors of Dynex Capital, Inc. (the “Company”)
appointed Thomas B. Akin as Chief Executive Officer of the Company, effective
immediately. Mr. Akin has served as a director of the Company and as
Chairman of the Board since 2003 and will continue in those roles as
well.
Mr. Akin
has served as the managing general partner of Talkot Capital, LLC located in
Sausalito, California since 1995. Talkot Capital is the general partner for
various limited partnerships investing in both private and public
companies. From 1991 to 1994, Mr. Akin was the managing director for
the Western United States for Merrill Lynch Institutional
Services. He had been the regional director of the San Francisco and
Los Angeles regions for Merrill Lynch Institutional Services from 1981 to
1991. Prior to Merrill Lynch, Mr. Akin was an employee of Salomon
Brothers from 1978 to 1981. He is currently on the board of directors
for Acacia Research Corporation, CombiMatrix Corporation, and serves as Chairman
of the Board for both Advance Data Exchange and Centiv Services,
Inc.
Mr. Akin
does not currently have an employment agreement with the Company. The
Board of Directors does, however, anticipate entering into an employment
agreement with Mr. Akin, the terms of which will be disclosed when
executed.
Item
8.01 Other
Events.
On
February 5, 2008, the Company issued a press release announcing the
organizational changes discussed in Item 5.02 of this report. The
press release also announced the Company’s declaration of a dividend
of $0.10 per share on its common stock, which is payable February 29, 2008 to
shareholders of record as of February 15, 2008, and the sale of substantially
all of the tax liens it owned in Allegheny County, Pennsylvania, through an
indirect subsidiary, for $1.625 million.
The press
release is being filed as Exhibit 99.1 to this report and is incorporated by
reference into this Item 8.01.
Item
9.01 Financial
Statements and Exhibits.
(d)
Exhibits
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Exhibit
No.
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Description
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99.1
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Press
Release dated February 5, 2008
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2
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
DYNEX CAPITAL, INC.
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Date:
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February
7, 2008
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By:
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/s/
Stephen J. Benedetti
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Stephen
J. Benedetti
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Executive
Vice President and Chief Operating Officer
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3
EXHIBIT
INDEX
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Exhibit
No.
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Description
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99.1
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Press
Release dated February 5, 2008
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