NVE Corp held its 2026 Annual Meeting of Shareholders on August 6, 2026. Daniel A. Baker retired as president and chief executive officer effective at the meeting but was reelected to the Board and elected chairman. Peter G. Eames was appointed president and chief executive officer. Carolyn W. Valentine was elected to the Board for the first time and appointed to the Compensation and Nominating/Corporate Governance committees. The board size increased from five to seven directors. Shareholders also approved advisory compensation for named executives and ratified Boulay PLLP as the independent auditor. This company operates in the semiconductor industry, designing magnetic sensor and isolation products.

NVE Corporation reported first quarter fiscal 2027 results with total revenue of $11.0 million, an 81% increase from $6.10 million in the prior-year quarter, and net income of $6.39 million, up 79% from $3.58 million. The Board of Directors approved a quarterly cash dividend of $1.00 per share of common stock, payable August 31, 2026, to shareholders of record as of August 3, 2026. NVE Corporation is a leader in the commercialization of spintronics nanotechnology, manufacturing high-performance spintronic products like sensors and couplers.

NVE Corporation announced that President and CEO Daniel A. Baker, Ph.D., will retire as CEO/President/Chairman/Board Member (pending shareholder approval) effective August 6, 2026, at the Annual Shareholders' meeting. Peter G. Eames, currently Vice President of Advanced Technology, will succeed him as President and CEO effective then, with an annual base salary of $260,000 and a performance-based compensation plan. The Board of Directors has also nominated Carolyn W. Valentine to join the Board. NVE Corporation is a technology company that provides energy and energy-related technology solutions.