NVE CORP /NEW/

NVE Corporation announced that Daniel A. Baker, Ph.D., will retire as President and Chief Executive Officer effective August 6, 2026. Peter G. Eames, Ph.D., currently Vice President of Advanced Technology, has been appointed as the new President and CEO, effective the same date. Dr. Baker is nominated to remain on the Board as Chairman, and Dr. Eames is also nominated to join the Board. Additionally, Carolyn W. Valentine was nominated to join the Board, expanding it from five to seven directors, pending shareholder approval. Dr. Eames' compensation includes an annual base salary of $260,000 and a performance-based plan.

NVE Corporation announced its 2026 Annual Meeting of Shareholders, where Dr. Peter G. Eames is expected to be appointed President and CEO, succeeding Dr. Daniel A. Baker, who will transition to Chairman of the Board. The company also nominated Dr. Eames and Ms. Carolyn W. Valentine as new directors, which would expand the Board from five to seven members. The proxy statement details proposals for the meeting, including the election of directors and an advisory vote on executive compensation.

NVE Corporation filed its annual 10-K report, detailing its business strategy, products, and markets. The company specializes in spintronics technology, developing sensors and couplers for industrial automation, medical devices, and power conversion, as well as MRAM for specialized storage. The report outlines the company's manufacturing processes, sales distribution, new product development, and competitive landscape. Key risks include reliance on single-source suppliers, competition, product liability for medical devices, and foreign business operations. The company also provided details on its human capital resources and cybersecurity program.

NVE Corporation announced strong financial results for the fourth quarter and fiscal year ended March 31, 2026. For Q4 2026, total revenue increased 5% to $7.65 million, and net income rose 27% to $4.93 million, or $1.02 per diluted share. For the full fiscal year 2026, total revenue grew 1.8% to $26.3 million, with net income increasing 1% to $15.2 million, or $3.14 per diluted share. The company also declared a quarterly cash dividend of $1.00 per share.