Peter G. Eames
About Peter G. Eames
Peter G. Eames, age 49, is Vice President of Advanced Technology at NVE, a role he has held since 2016; he joined NVE in 2003 after completing a Ph.D. in Experimental Condensed Matter Physics from the University of Minnesota . Company performance context: fiscal 2025 operating income was $16.0M and net income was $15.1M, with 44% sequential revenue growth in the quarter ended March 31, 2025 and a three-year TSR of 39% (17% price appreciation, 22% dividends) . His incentive pay is tied to operating income, reinforcing pay-for-profitability .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NVE Corporation | Vice President, Advanced Technology | Since 2016 | — |
| NVE Corporation | Various roles | 2003–2016 | — |
External Roles
No external roles are mentioned for Eames in the latest proxy .
Fixed Compensation
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Base Salary ($) | $215,000 | $227,900 | $240,000 |
| Target Bonus (%) | — | — | — |
| Discretionary Bonus Paid ($) | $20,000 | — | — |
Performance Compensation
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Non-Equity Incentive Plan Compensation ($) | $43,000 | $56,080 | $48,395 |
| Underlying Performance Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Income from Operations ($) | $25,644,182 | $18,518,865 | $15,994,149 |
| Plan Detail (FY 2025 unless noted) | Disclosure |
|---|---|
| Metric | Income from operations |
| Threshold | Positive operating income required to trigger payout |
| Formula | Eames’ plan based on 0.3% of fiscal 2024 income from operations (Committee-set formula) |
| Actual (FY 2025) | Company operating income $15,994,149 |
| Payout (FY 2025) | $48,395 |
| Vesting/Timing | Annual cash payout based on fiscal-year performance; plans approved at fiscal year start |
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Beneficial Shares Owned | “–” (none reported) |
| Ownership % of Outstanding | “*” (below 1%) |
| Shares Outstanding (for context) | 4,837,166 |
| Stock Awards (RSUs/PSUs) | None; company does not grant RSUs/PSUs to NEOs |
| Options (Exercisable/Unexercisable) | Not granted to NEOs other than CEO under current practice |
| Pledging/Hedging | Prohibited for directors and NEOs |
| Ownership Guidelines | Not disclosed |
Employment Terms
| Term | Detail |
|---|---|
| Employment Start Date | Joined NVE in 2003 |
| Current Role Tenure | Vice President of Advanced Technology since 2016 |
| Contract Type | Agreements on non-competition, confidentiality, assignment of inventions; at-will employment |
| Severance | None; only unused accrued PTO payable |
| Change-of-Control | No agreements; company states it does not provide “golden parachutes” |
| Clawback Policy | Adopted in compliance with NASDAQ listing standards; filed as 10-K exhibit |
| Pension/SERP | None; eligible for 401(k) like other employees |
| Perquisites | No executive perks beyond benefits offered to all employees |
Compensation Structure Notes
- Company practice is modest equity use; options currently only granted to the CEO, not other NEOs (reducing equity-based alignment for Eames vs CEO) .
- Incentive plans use income from operations (captures revenue and cost control) to link pay to profitability; plans are set at fiscal year start .
- Say-on-pay support: 97% approval at 2024 Annual Meeting, indicating shareholder acceptance of NEO pay design .
- No peer-based compensation benchmarking; committee relies on surveys/government data and internal expertise .
Investment Implications
- Alignment and selling pressure: Proxy lists no beneficial share ownership for Eames, and current practice does not grant options to non-CEO NEOs, implying limited direct equity alignment and minimal near-term insider selling pressure from his holdings .
- Pay-for-performance: Cash incentives tied to operating income provide clear linkage to profitability; FY 2025 payout decreased as operating income declined, reinforcing sensitivity to core operating results .
- Retention mechanics: At-will employment with no severance or change-of-control protection suggests limited contractual retention levers; retention relies on role, culture, and annual cash incentives rather than equity lock-ins .
- Governance safeguards: Prohibitions on pledging/hedging and a formal clawback policy reduce governance risk; strong say-on-pay support indicates investor comfort with compensation oversight .