<SEC-DOCUMENT>0000724910-16-000060.txt : 20160620
<SEC-HEADER>0000724910-16-000060.hdr.sgml : 20160620
<ACCEPTANCE-DATETIME>20160620160926
ACCESSION NUMBER:		0000724910-16-000060
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20160620
DATE AS OF CHANGE:		20160620
EFFECTIVENESS DATE:		20160620

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NVE CORP /NEW/
		CENTRAL INDEX KEY:			0000724910
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				411424202
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12196
		FILM NUMBER:		161722229

	BUSINESS ADDRESS:	
		STREET 1:		11409 VALLEY VIEW ROAD
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344
		BUSINESS PHONE:		9528299217

	MAIL ADDRESS:	
		STREET 1:		11409 VALLEY VIEW ROAD
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREMIS CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>NVE_2016_Letter.htm
<DESCRIPTION>2016 LETTER TO SHAREHOLDERS
<TEXT>
<html><font style="font-size: 10pt; font-family: Times New Roman">&nbsp;<br>
</font>
<hr style="margin-top: -5px; color: black;" noshade size="3">
<hr style="margin-top: -14px; color: black;" noshade size="1">
<div align="center"><b><font face="Times New Roman" style="font-size:12pt;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
</font></b><font style="font-size: 10pt; font-family: Times New Roman;"><b>Washington, D.C.&nbsp;&nbsp;20549<br>
</b></font><font style="font-size: 10pt; font-family: Times New Roman; line-height: 5pt;">_______________</font></div><p align="center"><b><font size="5" face="Times New Roman" style="font-size:12pt;">SCHEDULE 14A INFORMATION</font></b><br><font face="Times New Roman" style="font-size:10pt;">
<div align="center">
Proxy Statement Pursuant to Section&nbsp;14(a)&nbsp;of the Securities Exchange Act of 1934<br>
(Amendment No.&nbsp;&nbsp;&nbsp;)<br>
</div>Filed by the Registrant&nbsp;&nbsp;[X]<br><br>
Filed by a party other than the Registrant&nbsp;&nbsp;[&nbsp;&nbsp;&nbsp;]<br>
<br>Check the appropriate box:</font>
<table style="font-size: 10pt; font-family: Times New Roman;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td width="36">[&nbsp;&nbsp;&nbsp;]</td><td>Preliminary Proxy Statement</td></tr>
<tr>
<td>[&nbsp;&nbsp;&nbsp;]
</td>
<td>
Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</td>
</tr>
<tr>
<td>[&nbsp;&nbsp;&nbsp;]
</td><td>Definitive Proxy Statement
</td></tr>
<tr>
<td>[X]</td><td>Definitive Additional Materials</td></tr>
<tr>
<td>
[&nbsp;&nbsp;&nbsp;]</td><td>Soliciting Material under Rule 14a-12</td></tr>
</table><b><font face="Times New Roman" style="font-size:10pt;font-weight:bold;">&nbsp;</font></b>
<div align="center"><img src="nve-logo.gif" width="276" height="54" alt="NVE Logo"><font style="display: inline; font-size: 26pt; font-family: Arial;"><b><br>
NVE Corporation</b><br></font><font face="Times New Roman" style="font-size:10pt;">(Name of Registrant as Specified In Its Charter)<br>
&nbsp;<br>
&nbsp;<br>
(Name of Person(s)&nbsp;Filing Proxy Statement, if other than the Registrant)<br>
&nbsp;<br>
</font>
</div><table style="font-size: 10pt; font-family: Times New Roman;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td colspan="3" valign="top">Payment of Filing Fee (Check the appropriate box):
</td></tr>
<tr>
<td width="36" valign="top">
[X]</td><td colspan="2" valign="top">
No fee required.
</td></tr>
<tr>
<td valign="top">
[&nbsp;&nbsp;&nbsp;]
</td><td colspan="2" valign="top">
Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.</td></tr>
<tr>
<td rowspan="10"></td><td width="25" valign="top">(1)</td><td>Title of each class of securities to which transaction applies:
</td></tr>
<tr>
<td colspan="2" valign="top">&nbsp;
</td></tr>
<tr>
<td valign="top">(2)</td><td>Aggregate number of securities to which transaction applies:
</td></tr>
<tr>
<td colspan="2" valign="top">&nbsp;
</td></tr>
<tr>
<td valign="top">(3)</td><td>Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
</td></tr>
<tr>
<td colspan="2" valign="top">&nbsp;</td></tr>
<tr>
<td valign="top">(4)</td><td>Proposed maximum aggregate value of transaction:</td></tr>
<tr>
<td colspan="2" valign="top">&nbsp;</td></tr>
<tr>
<td valign="top">(5)</td><td>Total fee paid:</td></tr>
<tr>
<td colspan="2" valign="top">&nbsp;</td></tr>
<tr>
<td valign="top">
[&nbsp;&nbsp;&nbsp;]
</td><td colspan="2" valign="top">Fee paid previously with preliminary materials.</td></tr>
<tr>
<td valign="top">
[&nbsp;&nbsp;&nbsp;]
</td><td colspan="2" valign="top">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2)&nbsp;and
identify the filing for which the offsetting fee was paid previously.
Identify the previous filing by registration statement number, or the
Form&nbsp;or Schedule and the date of its filing.</td></tr>
<tr>
<td rowspan="7"></td><td valign="top">(1)</td><td>Amount Previously Paid:</td></tr>
<tr>
<td colspan="2" valign="top">&nbsp;</td></tr>
<tr>
<td valign="top">(2)</td><td>Form, Schedule or Registration Statement No.:</td></tr>
<tr>
<td colspan="2" valign="top">&nbsp;</td></tr>
<tr>
<td valign="top">(3)</td><td>Filing Party:</td></tr>
<tr>
<td colspan="2" valign="top">&nbsp;</td></tr>
<tr>
<td valign="top">(4)</td><td>Date Filed:</td></tr>
</table><font face="Times New Roman" style="font-size:10pt;">&nbsp;<br>
&nbsp;<br>
</font>
<hr style="margin-top: -5px; color: black;" noshade size="1">
<hr style="margin-top: -15px; color: black;" noshade size="3">
<div style="page-break-after: always;"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></div>
<hr color="#0046AD" noshade>
<table width="100%" border="0" cellspacing="00" cellpadding="0">
<tr>
<td><img src="sml-logo.gif" width="102" height="29" alt="Small NVE logo"></td><td>
<div align="right"><font face="Arial, Helvetica" style="font-size:8pt;">11409 Valley View Road<br>
Eden Prairie, MN 55344-3617<br>
www.nve.com</font></div></td></tr></table>
<hr color="#0046AD" noshade>
<font face="Times New Roman, Times, serif" style="font-size: 10pt">&nbsp;<br>
</font> <font style="font-size: 10pt" face="Arial, Helvetica, sans-serif"><b>Fellow
Shareholders:</b></font><font style="font-size: 10pt" font-family: Times New Roman;">&nbsp;<br>
&nbsp;<br>
Fiscal 2016 was an important year as we positioned NVE for a bright future based
on the Internet of Things. We dramatically increased R&amp;D activities, introduced
innovative new products, and solidified customer partnerships. We also returned
a record amount of cash to shareholders.<br>
<br>
<b>Innovative New Products</b><br>
Our growth strategy is new and improved products in the near term, targeting the
fast-growing Internet of Things, and game-changing technology for the long term.
<br>
<br></font>
<table border="0" cellspacing="00" cellpadding="0" width="183" align="right" height="174">
<tr>
<td align="right"><img src="chart-16.gif" width="171" height="174" alt="Chart of Dividends, Repurchases, and Cash Flow" border="0"></td>
</tr>
</table>
<font style="font-size: 10pt" font-family: Times New Roman;">New products in the
past year included:<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;&nbsp;six-kilovolt high-voltage coupler models
for smart grid and medical instruments;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;&nbsp;new angle sensors for energy and resource
management; and<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;&nbsp;new sensors for smart medical devices.<br>
<br>
<b>Customer Partnerships</b><br>
We are proud to have some of the world&#146;s most innovative and demanding <br>
customers. In the past year we extended our Supplier Partnering Agreement with
St. Jude Medical, Inc., one of the largest suppliers of medical devices, through
the end of 2020. We also extended our long-term Supply Agreement with Sonova&nbsp;AG,
a leading hearing aid manufacturer.<br>
<br>
<b>More R&amp;D</b><br>
The total of customer- and company-sponsored R&amp;D activities increased 52%
in the past fiscal year to 20% of revenue. Key initiatives include smart-sensor
interfaces for Internet of Things end-nodes.<br>
<br>
Contract research and development revenue increased 379%. Contract R&amp;D generates
revenue, supports long-term product development, and builds intellectual property.
For example, in the past year we successfully completed work under a U.S. Department
of Agriculture grant on spintronic sensors for faster detection of food-borne
pathogens. This brings us closer to commercialization. We also had a good year
winning new R&amp;D contracts, so our contract backlog remains strong. <br>
<br>
<b>Patents</b><br>
New patents demonstrate the ingenuity of our scientists and engineers. In the
past year we strengthened our intellectual property portfolio with three new patents,
relating to tamper sensing, biosensors, and spin-dependent tunneling sensors.<br>
<br>
<b>Enhancing Shareholder Value</b><br>
We have aggressively returned cash to improve your shareholder value. As the chart
above shows, in the past fiscal year we returned more than $21&nbsp;million to
shareholders in the form of $19.4&nbsp;million in dividends and $1.7&nbsp;million
in stock repurchases.<br>
<br>
<b>Future Growth</b><br>
Our accomplishments the past year position us for leadership and growth. NVE is
uniquely positioned with sensors and interfaces to provide innovative components
for the burgeoning Internet of Things.<br>
<br>
Sincerely,<br>
<br>
<img src="dab-sig.gif" alt="-s- Daniel A. Baker" width="88" height="28" border="0"><br>
Daniel A. Baker<br>
President and Chief Executive Officer<br>
<br>
<i><b>Statements used in this letter that relate to future plans, events, or performance
are forward-looking statements that are subject to certain risks and uncertainties
including the risk factors listed from time to time in our filings with the SEC,
including our Annual Report on Form 10-K and other reports filed with the SEC.
The Company undertakes no obligation to update forward-looking statements.</b></i></font>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>nve-logo.gif
<DESCRIPTION>NVE LOGO
<TEXT>
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<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>sml-logo.gif
<DESCRIPTION>SMALL NVE LOGO
<TEXT>
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<DESCRIPTION>CHART OF DIVIDENDS, REPURCHASES, AND CASH FLOW
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<DESCRIPTION>SIGNATURE OF DANIEL A. BAKER
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