CEO PAY WATCH NVE CORP.Daniel Baker, president, CEO Total compensation: $3,002,018 for the year ended March 31
Salary: $266,667
Non-equity incentive pay: $41,747
Other compensation: $11,904
Exercised stock options: $2,681,700
Total fiscal 2012 return to shareholders: -5.9 percent
Note: Baker exercised some long-held options that helped boost his total pay to $3 million. The 70,000 options that Baker exercised in November became exercisable in March 2005 and were set to expire in 2015. Baker received no new stock options or stock awards last year.
Baker's cash-based compensation, salary and bonus, was down 14 percent from last year. The annual bonus decreased 62 percent from the prior year because of a decrease in the company's income before taxes. While Baker's base salary rose 6.7 percent last year, the compensation committee has determined there will be no salary increases for fiscal 2013.
NVE makes high-performance sensors and couplers that use "spintronics," a nanotechnology. For the year ended March 31, the company had annual sales of $28.6 million, down 8 percent from the year before. Net income for fiscal 2012 was $11.4 million, down 14.8 percent for the year.
PATRICK KENNEDY
