---
schema_version: "secwatch.filing_event.v1"
accession: "0001376474-24-000235"
form_type: "8-K"
ticker: "NVEC"
cik: "0000724910"
company_name: "NVE CORP /NEW/"
filed_at: "2024-05-13T23:59:59+00:00"
generated_at: "2026-06-02T02:57:01.966759+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# NVE director Richard Kramp dies; Dr. Kelly Wei elected to board

## Summary
- Director Richard W. Kramp passed away May 2, 2024 after an illness; served on NVE board since 2014.
- Dr. Kelly Wei elected to board effective May 13, 2024 to fill unexpired term ending at 2024 annual meeting.
- Wei is VP of Corporate Strategy at Medtronic, appointed to Compensation and Nominating committees.
- Board determined Wei is independent under NASDAQ Listing Rule 5605(a)(2) and SEC regulations.

## SEC filing metadata
- accession: 0001376474-24-000235
- form_type: 8-K
- ticker: NVEC
- cik: 0000724910
- company_name: NVE CORP /NEW/
- filed_at: 2024-05-13T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/724910/000137647424000235/0001376474-24-000235-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/724910/000137647424000235/nvec-20240513.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001376474-24-000235
- JSON: https://secwatch.observer/filing/0001376474-24-000235.json
- Plain text: https://secwatch.observer/filing/0001376474-24-000235.txt

## Key facts
- Executive change
  Kelly Wei was elected as Director at NVE CORP /NEW/.
  - Action: elected
  - Role: Director
  source text: the NVE Board of Directors elected Kelly Wei, Ph.D. to join the Board effective May 13, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/724910/000137647424000235/0001376474-24-000235-index.htm
- Executive change
  Richard W. Kramp departed as Director at NVE CORP /NEW/.
  - Action: passed away
  - Role: Director
  source text: Director Richard W. Kramp passed away on May 2, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/724910/000137647424000235/0001376474-24-000235-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.