<SEC-DOCUMENT>0000724910-22-000017.txt : 20220621
<SEC-HEADER>0000724910-22-000017.hdr.sgml : 20220621
<ACCEPTANCE-DATETIME>20220621171013
ACCESSION NUMBER:		0000724910-22-000017
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20220621
DATE AS OF CHANGE:		20220621

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:		221028976

	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_2022_Letter.htm
<DESCRIPTION>2022 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></font> <font style="font-size: 10pt" font-family: Times New Roman;"><br>
<br>
<b>Strong Growth</b><br>
We were pleased to report a 24% increase in net income for fiscal 2022 driven
by a 26% increase in product sales, despite semiconductor supply-chain challenges.<br>
<br>
<b>Robust Product Development</b><br>
Our growth strategy centers on the Industrial Internet of Things, which could
enable a new wave of factory automation.<br>
The robots and mechatronics that power these factories use our devices for more
precise control and more efficient manufacturing. Our other major target market
is sensors for safer, more effective medical devices. New product introductions
in the past year included:<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;our most sensitive magnetic sensor ever;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;a new current sensor;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;a high-sensitivity Smart Magnetometer;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;rotational sensors with thousandths of a degree
resolution for ultraprecise motion control and robotics;<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;data couplers with isolated power convertors
to transmit power as well as data; and<br>
&nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;ultralow power magnetic switches for medical
devices and hearables.<br>
<br>
Please visit our Website or <i>YouTube</i> channel for more information and demonstrations
of these unique products.<br>
<br>
In addition to new products, we are working on cutting-edge R&amp;D programs that
build on NVE's core competencies.<br>
<br>
<b>New and Existing Customers</b><br>
Semiconductor shortages have posed threats but also opportunities. We have addressed
the threats to our supply chain with the cooperation of our suppliers and the
dedication and ingenuity of our employees. We have taken advantage of the opportunities
by qualifying our products and earning the business of new customers facing shortages
of conventional semiconductors.<br>
<br>
Top medical suppliers such as Abbott's Pacesetter subsidiary rely on our products
for their life-changing devices. This year we extended our Supplier Partnering
Agreement with Abbott.<br>
<br>
<b>Meeting Customers Face-to-Face</b><br>
In-person tradeshows resumed in the past year, and we teamed with our distributors
at several international shows in the past several months. We will exhibit under
our own banner at Sensors Converge starting June&nbsp;27 in San Jose.<br>
<br>
<b>Investments in the Future</b><br>
Capital expenditures were $485,000 in fiscal 2022, the most since fiscal 2018.
Most of the investments were for test equipment to increase our production capacity
and alleviate potential bottlenecks. We converted part of our building to accommodate
the new equipment. In addition to expanding production, we completed a spruce
up of our office areas for a more appealing and efficient work environment.<br>
<br>
<b>Putting Shareholders First</b><br>
We continued to aggressively return cash to enhance your shareholder value. We
have paid generous dividends since 2015, and have repurchased stock each of the
past three fiscal years.<br>
<br>
We look forward to meeting shareholders in person at our upcoming Annual Meeting
for the first time since 2019. We will have live, hands-on product demonstrations,
which are popular with our shareholders. If you&#146;re unable to attend, please
visit our YouTube channel to see the demonstrations.<br>
<br>
<b>A Bright Future</b><br>
In-demand products, investments in new products, increased capacity, and fast-growing
markets set the stage for continued growth.<br>
<br>
Thank-you for your continued support. <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 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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end
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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>
