<SEC-DOCUMENT>0000724910-17-000023.txt : 20170619
<SEC-HEADER>0000724910-17-000023.hdr.sgml : 20170619
<ACCEPTANCE-DATETIME>20170619081257
ACCESSION NUMBER:		0000724910-17-000023
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20170619
DATE AS OF CHANGE:		20170619
EFFECTIVENESS DATE:		20170619

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:		17917513

	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_2017_Letter.htm
<DESCRIPTION>2017 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>Successful new product development helped NVE return to
 growth in fiscal 2017. After a decrease in product sales in the
first fiscal quarter, we had strong year-over-year increases the
last three quarters (see chart at right).<br>
<br>In the past year we introduced several innovative new products, invested in the future by increasing R&D expenditures 9%, advanced strategic research programs, and returned more than $19 million 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="234" align="right" height="136">
<tr>
<td align="right"><img src="chart-17.gif" width="222" height="136" alt="Chart of Quarterly Revenue Changes" 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;new angle sensor models for energy and resource
management that use less energy or less magnetic field;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;rotation sensors for robotics and resource
management;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;new sensors for medical devices; and<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;new antitamper sensors.<br>
<br>
Long-term product development programs in fiscal 2017 included:<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;&#147;smart sensor&#148; interfaces for connection
to the Internet of Things;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;biosensors for food safety and medical diagnostics;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;new current sensors for energy management;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;ultra-high speed couplers;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;low-power couplers; and<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;MRAM for antitamper and security applications.<br>
<br>
<b>Ingenious R&D</b><br>
In the past year we won a phase-two U.S. Department of Agriculture grant to develop
spintronic sensors for faster detection of food-borne pathogens.
The goal is to dramatically improve food safety,
and the objective is to build and test prototype commercial systems.
Our next major project milestone is prototype components later this fiscal year.
We were also awarded a research contract to develop
a monolithic spin-torque microwave diode spectrograph for the U.S. Army.
In addition to defense applications, spin-torque diodes could lead to
faster couplers for Internet of Things applications such as remote video.<br>
<br>
<b>Enhancing Shareholder Value</b><br>
We continued to aggressively return cash to enhance your shareholder value. In
the past fiscal year we returned more than $19.3&nbsp;million in dividends, and have
one of the highest dividend yields in our industry.<br><br>
<b>Future Growth</b><br>
R&D investments have uniquely positioned NVE with products and technology to lead a spintronic revolution.<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>
begin 644 nve-logo.gif
M1TE&.#EA% $V +,   !&K0DW>0<C3$!.8GAY>O___^+BXK2TM
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MU_)%,+*=NCKJ)0UAF'57%7FR*J/NBF^\WLZ/K&KJ\K?1?<FQJM(7'2>Z\>A
M6Z^^U0$_=_9@A?J,2]0S^5?G[KV)=W.\!X[1Z>$OZ23KAVSY.J+<@R6\);7?
<W_[PN0-QO@E!Z%WBFM(PQNEH$ 9,H %1$P$ .P$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>sml-logo.gif
<DESCRIPTION>SMALL NVE LOGO
<TEXT>
begin 644 sml-logo.gif
M1TE&.#EA9@ = ,0   !&K=79W^CJ[0TL5%1OD@!*J ! D0 Q;P <0! E0"U)
M:WJ2L)^RRL/(SO____?W][6UM:BHJ(V-C6YN;E%143<W-R4E)0
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)0L=YL@HA   [

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>chart-17.gif
<DESCRIPTION>CHART OF QUARTERLY REVENUE CHANGES
<TEXT>
begin 644 chart-17.gif
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M," @(! 0$
M
M
M
M
M                     "P     W@"(   (_P #"!Q(L*#!@P@3"@Q%PX/#
MAQ C2IQ(L:+%BQ@S:MS(L:-'#Q,4'BQEJI1 4:).IA0("I1(@:245!!!LZ;-
MFSASZMS)LZ?/GT"#"AU*5,2&EP1%K5)E<A5*5:)2I5J9"JD#.3EF%MW*M:O7
MKV"''D4J<-4I@:56"4S%RI2IJJA6*KP2)$?6L'CSZMW+URA9@:I@M0J0RI1
M4[#<HB(I\M.,'G;O]IU,N;)EOW\%MD*ERG  4TM5@5(5 )3<@21-58EL5^OE
MU[!C"QV;V92J4Z@$HCI+N*6JP@A5L)8LN[CQX[3_GA(%BI5FEVX_=ZYZ4#AK
MU\>S:Z><7*2HMB8#I/\V"2JW;E0NJP_'OKV]^Z]'3V>>/]!Z9/;O\^L'>A0T
M_?\"V=?:?@06R--1) %W$H!("4B<@1 :F!QHJJBB%H,B.8A?A!RZ%]]GL'3V
M%H89KM?AB?GU!XLK<J5'8G FHDA9!D@48>.-..:(1 82?D;=BPW&*"-?,-B
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FI\QZK=A*']1:(4C3&>F1--'3H]DZKN1:KN9ZKNB:KNK:;@$! #L!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>dab-sig.gif
<DESCRIPTION>SIGNATURE OF DANIEL A. BAKER
<TEXT>
begin 644 dab-sig.gif
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&V/%(0  [

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
