NVE Corporation’s SEC filings document operating results, dividend actions, material agreements, and shareholder governance for its spintronic products business. Form 8-K reports furnish quarterly and fiscal-year financial results and record board-approved cash dividends on common stock.
The filing record also includes amendments to a Supplier Partnering Agreement with Abbott for supplied products, annual meeting voting results, and definitive proxy disclosures. Proxy materials cover director elections, advisory executive compensation votes, auditor ratification, equity compensation plan information, security ownership, related-party matters, and corporate governance policies.
NVE Corporation held its 2026 Annual Meeting of Shareholders on August 6, 2026. Shareholders voted on three proposals: election of seven directors, advisory approval of named executive officer compensation, and ratification of Boulay PLLP as independent registered public accounting firm for the fiscal year ending March 31, 2027. There were 4,837,166 shares of common stock entitled to vote and a majority was represented.
All seven director nominees, including Daniel A. Baker, Peter G. Eames, and Carolyn W. Valentine, were elected. The advisory vote on executive compensation passed with 3,011,073 votes for, and the auditor ratification received 3,876,455 votes for. In line with a previously described CEO succession plan, Daniel A. Baker retired as president and chief executive officer effective at the meeting, was reelected to the board, and became chairman. Peter G. Eames joined the board and was appointed president and chief executive officer, while Carolyn W. Valentine joined the board and was appointed to the Compensation and Nominating/Corporate Governance committees, increasing the board from five to seven directors.
State Street Corporation and its affiliate SSGA Funds Management, Inc. report beneficial ownership of NVE Corp common stock on a passive Schedule 13G. State Street reports beneficial ownership of 375,038 shares of common stock, representing 7.8% of the class. These shares are held with 0 sole voting or dispositive power, 368,754 shares of shared voting power, and 375,038 shares of shared dispositive power. Within this total, SSGA Funds Management, Inc. reports 278,530 shares beneficially owned, or 5.8% of the class, all with shared voting and dispositive power. The holdings are managed through investment adviser subsidiaries including SSGA Funds Management, Inc., State Street Global Advisors Europe Limited, and State Street Global Advisors Trust Company.
NVE Corp President & CEO Daniel A. Baker reported option-related insider transactions in NVE Corp common stock. On July 27, 2026 he exercised 15,000 incentive stock options through cashless net option exercises, receiving common shares, and reported net sales of 20,000 shares at prices around $114–$118 between July 27 and 29, 2026. All incentive stock options on this form would expire three months after his retirement.
NVE Corp director Wei Xuan Kelly exercised non-qualified stock options covering 1,500 shares of common stock on 2026-07-27 through a cashless net option exercise. Options with exercise prices of $81.96 (1,000) and $61.72 (500) were converted, resulting in the acquisition of 538 common shares at $117.38 per share, which Kelly now holds directly.
NVE Corporation reported higher revenue and earnings for the quarter ended June 30, 2026, the first quarter of fiscal 2027. Total revenue was $11,034,057, up 81% from the prior-year quarter, driven by an 82% increase in product sales to $10,734,735 and higher contract R&D revenue. Gross profit was $8,968,012, an 81.3% margin.
Operating expenses rose to $1,702,176 as the company increased research and development and performance-based compensation. Net income was $6,394,191, or $1.32 per diluted share, up from $3,575,818, or $0.74, a year earlier. Cash from operating activities was $5,306,318, and cash and cash equivalents were $2,896,148. Total assets were $62,116,940, with marketable securities and money market funds representing approximately 69% of total assets.
The company paid a $1.00 cash dividend per share in the quarter and subsequently declared another $1.00 dividend payable August 31, 2026. Management reports effective disclosure controls, no material legal proceedings, and no material changes to previously disclosed risk factors.
NVE Corporation reported very strong results for the quarter ended June 30, 2026, the first quarter of fiscal 2027. Total revenue increased 81% to $11,034,057 from $6,104,644 in the prior-year quarter, driven by an 82% increase in product sales to $10,734,735 and a 53% increase in contract research and development revenue to $299,322.
Net income rose 79% to $6,394,191, or $1.32 per basic and diluted share, compared with $3,575,818, or $0.74 per share, a year earlier. Gross profit nearly doubled to $8,968,012 from $4,922,121, while operating expenses grew more modestly to $1,702,176. Income from operations was $7,265,836 and income before taxes was $7,715,756.
As of June 30, 2026, total assets were $62,116,940 and shareholders’ equity was $59,779,790, with total liabilities of $2,337,150. The Board approved a quarterly cash dividend of $1.00 per share, payable August 31, 2026 to shareholders of record on August 3, 2026.
NVE Corporation announced a planned leadership transition and board expansion. Daniel A. Baker will retire as President and Chief Executive Officer effective at the Annual Shareholders’ meeting on August 6, 2026, and, pending shareholder approval, remain on the Board as Chairman.
The Board appointed Peter G. Eames, currently Vice President of Advanced Technology, as the next President and Chief Executive Officer effective at that meeting and nominated him to the Board. The Board also nominated current Chairman Terrence W. Glarner to remain a director and first-time nominee Carolyn W. Valentine to join the Board. If shareholders approve all nominees, the Board will increase from five to seven directors.
The Compensation Committee set Dr. Eames’ annual base salary at $260,000 and approved a performance-based compensation plan equal to 0.3% of fiscal 2027 income from operations plus 2% of the increase in income from operations in fiscal 2027 compared to fiscal 2026. Non-employee directors, if elected or reelected, will receive an immediately vested nonqualified option to purchase 1,000 shares, except Dr. Baker, who will not receive this option if reelected.
NVE Corporation is asking shareholders to elect seven directors, approve executive compensation, and ratify Boulay PLLP as auditor at its August 6, 2026 annual meeting. The board will expand from five to seven members, with Peter G. Eames succeeding Daniel A. Baker as CEO while Baker becomes Chairman.
The proxy highlights strong profitability for fiscal 2026, including a 79% gross margin, 60% operating margin, 58% net margin, and higher operating cash flow. Executive pay is positioned as performance-based, tied mainly to income from operations and without pensions, golden parachutes, or executive perquisites. The filing also emphasizes board independence, AI and cybersecurity oversight, climate and human rights policies, and a clawback policy for incentive pay.
NVE Corp President and CEO Daniel A. Baker received a grant of 2,500 incentive stock options on May 8, 2026. These options allow him to acquire 2,500 shares of NVE Corp common stock at an exercise price of $90.21 per share between May 8, 2027 and May 8, 2036.
The options were granted as a compensation award at no cost per option on the grant date. Following this grant, Baker directly holds 17,500 incentive stock options linked to NVE Corp common stock.