NVE CORP /NEW/ — Director's Dealing 2003

Aug 4, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NVE CORP /NEW/ (NVEC)
CIK: 0000724910
Period of Report: 2003-07-31

Reporting Person: DR DAUGHTON JAMES (Director, Chief Technology Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-07-31	Common Stock	S	10000	$22.14	Disposed	398800	Direct
2003-08-01	Common Stock	S	14700	$23.07	Disposed	384100	Direct
2003-08-04	Common Stock	S	9900	$22.45	Disposed	374200	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
1998-01-01	Incentive Stock Option	$0.857	A	35000	Acquired	2005-01-01	Common Stock (35000)	Direct
2001-07-26	Incentive Stock Option	$6.085	A	22600	Acquired	2011-07-26	Common Stock (22600)	Direct

Footnotes

F1: Includes shares owned jointly by Dr. Daughton and his spouse.

F2: Vesting in four equal installments with the first installment vesting 7/26/2001.