<SEC-DOCUMENT>0000724910-21-000017.txt : 20210621
<SEC-HEADER>0000724910-21-000017.hdr.sgml : 20210621
<ACCEPTANCE-DATETIME>20210621161055
ACCESSION NUMBER:		0000724910-21-000017
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20210621
DATE AS OF CHANGE:		20210621

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:		211030638

	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_2021_Letter.htm
<DESCRIPTION>2021 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><br>
</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 style="font-size: 10pt" face="Arial, Helvetica, sans-serif">&nbsp;<br>
<b>Fellow Shareholders:</b><br>
&nbsp;<br>
</font> <font style="font-size: 10pt" font-family: Times New Roman;">The COVID-19
pandemic had a significant impact on our business the past fiscal year, especially
in the first half. Thanks to the dedication and resourcefulness of our employees,
suppliers, and distributors, NVE continued operating effectively despite the pandemic.
Revenue recovered in the second half of the fiscal year, and the third quarter
was our best in two years.<br>
<br>
<b>Operating Through the Pandemic</b><br>
My letter last year covered the impacts of the start of the COVID-19 pandemic,
but as I write this letter there is a light at the end of the tunnel. Tough times
show what we are made of, and we have seen the dedication and resourcefulness
of NVE employees, and the tenacity of our managers and leaders.<br>
<br>
As the world gets back to normal, people who needed pacemakers and hearing aids
still need them, and automated factories are more important than ever. We believe
our future is bright, so we have preserved our workforce, continued to invest
in new-product development, and paid generous dividends.<br>
<br>
<b>Meeting Customers Again</b><br>
We look forward to in-person events. Sensors Expo, billed as North America&#146;s largest
event dedicated to sensors, connectivity, and the Internet of Things, is scheduled
for September in San Jose. We plan to exhibit, and our folks are champing at the
bit to get in front of customers again.<br>
<br>
<b>A Productive Year for Product Development</b><br>
Fiscal 2021 was a productive year for product development. We launched a number
of new products in the past year, including:<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;New smart sensors for more versatile connectivity
to the &#147;Industrial Internet of Things&#148;;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;Ultraprecise Tunneling Magnetoresistance motion
sensors for robotics and factory automation;<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;Several families of ultraminiature DC-to-DC
convertors to transmit power as well as data in industrial networks and cars;
<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;Improved couplers with best-in-class Common-Mode
Transient Immunity for more efficient power control;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;High-field magnetic sensors and switches for
MRI-tolerant medical devices;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;High-sensitivity
magnetic switches for rechargeable devices such as over-the-counter hearing aids
and smart audio devices.<br>
&nbsp;<br>
Our growth strategy centers on the &#147;Industrial Internet of Things,&#148;
which could enable a new wave of factory and warehouse automation. Our devices
control the robots and mechatronics that power modern factories for safer, more
efficient manufacturing. Our other major target market is sensors for safer, more
effective medical devices. Please visit our Website or YouTube channel for information
on these remarkable new products and demonstrations of their unique features and
benefits.<br>
<br>
<b>Extended Supply Agreements</b><br>
We are proud that top medical suppliers such as Abbott&#146;s Pacesetter subsidiary
and Sonova AG rely on our products for their life-changing devices. Abbott is
a leading implantable medical device supplier, and Sonova is a world leader in
hearing care. In the past year we extended our Supplier Partnering Agreement with
Abbott and we plan to negotiate a long-term extension to our Agreement. In early
2020, we also extended our Supply Agreement with Sonova through March&nbsp;31,
2025.<br>
<br>
<b>Putting Shareholders First</b><br>
Despite the impact of the pandemic, we continued to aggressively return cash to
enhance your shareholder value. We have paid well over $100&nbsp;million since
starting dividends in 2015, and we repurchased some of our stock in each of the
past two fiscal years.<br>
<br>
Unfortunately we won&#146;t be able to meet shareholders in person at our Annual
Shareholder&#146;s meeting as we had for many years before the pandemic. We invite
you to call in to our virtual annual meeting and visit our Website or YouTube
channel to see new product demonstrations. We look forward to meeting you and
showing you our products in-person next year.<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.
Actual results could differ materially from the information provided, and we undertake
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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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>sml-logo.gif
<DESCRIPTION>SMALL NVE LOGO
<TEXT>
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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>dab-sig.gif
<DESCRIPTION>SIGNATURE OF DANIEL A. BAKER
<TEXT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
