NVE (NVEC) Proxy Filing summary

Executive summary

• Achieved strong earnings and high operating and net income margins for fiscal 2024, despite a revenue decrease from a record prior year.

• Continued investment in R&D and product innovation, focusing on industrial IoT and medical devices.

• Initiated a multimillion-dollar expansion to increase capacity and capabilities, including wafer-level chip-scale manufacturing, with production planned to begin this fiscal year.

• Extended a key partnership with Abbott Laboratories for medical device components.

• Returned $19.3 million to shareholders through dividends, with a 46% total shareholder return over the past three fiscal years.

Voting matters and shareholder proposals

• Announced the addition of Dr. Kelly Wei to the Board of Directors following the passing of Richard W. Kramp.

• Dr. Wei brings significant medical device and executive experience and will be introduced at the annual meeting.

Board of directors and corporate governance

• Board transition due to the passing of a long-serving director and the appointment of a new director with relevant industry expertise.