NVE CORP /NEW/ — Director's Dealing 2003

Jul 29, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NVE CORP /NEW/ (NVEC)
CIK: 0000724910
Period of Report: 2003-07-25

Reporting Person: DR DAUGHTON JAMES (Director, Chief Technology Officer, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-07-25	Common Stock	S	500	$21.99	Disposed	425000	Direct
2003-07-28	Common Stock	S	10200	$22.03	Disposed	414800	Direct
2003-07-29	Common Stock	S	6000	$22.08	Disposed	408800	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 annual installments with the first installment vesting 7/26/2001.