CEO Paywatch NVE Corp.
June 26, 2013 at 1:16AM
Daniel Baker, president, CEO
Total compensation: $2,155,633 for the year ended March 31
Salary: $266,667
Non-equity incentive pay: $75,462
Other compensation: $12,054
Exercised stock options: $1,801,450
Total fiscal 2013 return to shareholders: 6.5 percent
Note: Baker's total compensation for the year decreased 28.2 percent from the previous year.
His base salary was unchanged and, while his bonus for the year increased 80.8 percent, the value from exercised options was $880,250 less than the previous year.
Baker exercised stock options that were granted in previous years. Beginning in fiscal 2006, the company reduced the use of stock options, and during the last three years the company has not granted any new stock options to Baker or its other senior executives.
Baker's base salary was the same as last year, but for fiscal 2014 he'll get a salary increase to $273,333.
NVE makes high-performance couplers and sensors for the semiconductor industry using the company's "spintronics" nanotechnology. In the last year, the Eden Prairie-based company invested in more clean-room production space and made other improvements.
Revenue for the year was $27 million, down 5.4 percent from last year, while net income increased 3.9 percent to $11.8 million.
Patrick Kennedy
about the writer
A spinoff company has been formed to produce a hormone supplement that reduces lung damage, but researchers still need to convince federal regulators of its safety and effectiveness.
