An NVM device includes a semiconductor substrate, a first floating gate, a first control gate, a first drain region, and a common source region. The semiconductor substrate has a recess extending downward from the substrate surface. The first floating gate is disposed in the recess, has a base and a side wall connecting to the base. The first control gate is disposed on and adjacent to the first floating gate. The first drain region is disposed in the semiconductor substrate in the recess. The common source region is formed in the semiconductor substrate in the recess, is adjacent to the first floating gate, and includes a main body and an extension part. The main body is disposed below a bottom surface of the recess and adjacent to the base. The extension part extends upward from the bottom surface beyond the base to be adjacent to the side wall.