NVE Announces Completion
of Sale of 213,700 Shares by Founder
EDEN PRAIRIE, Minn.--August 25, 2003--NVE Corporation (NasdaqSC:
NVEC) announced today that James M. Daughton, Ph.D., the company's
founder and chief technology officer, has completed the sale of
213,700 shares of NVE common stock pursuant to Rule 144 under the
Securities Act of 1933. Daughton continues to own 216,800 shares
of NVE common stock.
The sales took place on the open market between July 22, 2003 and
August 25, 2003. Daughton, who will be 67 on September 5, said he
sold the shares for estate-planning purposes and plans to hold his
remaining shares indefinitely.
NVE is a leader in the practical commercialization of spintronics,
which many experts believe represents the next generation of microelectronics.
NVE sells spintronic products including sensors and couplers to
revolutionize data acquisition and transfer, and licenses its MRAM
intellectual property.
Statements used in this press release that relate to future plans
or events are forward-looking statements that are subject to certain
risks and uncertainties.
NVE Corporation, 11409 Valley View Road, Eden Prairie, MN 55344-3617
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