NVE CORP /NEW/ — Director's Dealing 2005

Mar 30, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NVE CORP /NEW/ (NVEC)
CIK: 0000724910
Period of Report: 2005-03-28

Reporting Person: BAKER DANIEL A (Director, President & CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-03-28	Incentive Stock Option	$16.93	A	70000	Acquired	2015-03-28	Common Stock (70000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8837	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Incentive Stock Option	$6.578	2011-01-29	Common Stock (70000)	70000	Direct
Incentive Stock Option	$29.65	2014-05-07	Common Stock (35000)	105000	Direct

Footnotes

F1: On March 28, 2005 the company's Compensation Committee accelerated the vesting of these options such that all 35,000 options became immediately exercisable as of March 28, 2005.

F2: Options granted in part in consideration of a voluntary reduction in salary by Dr. Baker.