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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; text-autospace: none; font-size: 10pt">Date of Report (Date of earliest event reported)</TD>
    <TD STYLE="width: 67%; text-autospace: none; font-size: 10pt; border-bottom: Black 1pt solid; padding-left: 1.08in">April 17, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; text-autospace: none; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">NAVIDEA BIOPHARMACEUTICALS, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-size: 10pt; text-align: center; width: 29%">(Exact name of registrant as specified in its charter)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; text-autospace: none; border-bottom: Black 1pt solid; text-align: center">Delaware</TD>
    <TD STYLE="width: 34%; text-autospace: none; border-bottom: Black 1pt solid; text-align: center">001-35076</TD>
    <TD STYLE="width: 33%; text-autospace: none; border-bottom: Black 1pt solid; text-align: center">31-1080091</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: center">&nbsp;(State or other jurisdiction</TD>
    <TD STYLE="text-autospace: none; text-align: center">(Commission</TD>
    <TD STYLE="text-autospace: none; text-align: center">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: center">of incorporation)</TD>
    <TD STYLE="text-autospace: none; text-align: center">File Number)</TD>
    <TD STYLE="text-autospace: none; text-align: center">Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; text-autospace: none; border-bottom: Black 1pt solid; text-align: center">425 Metro Place North, Suite 450, Dublin, Ohio</TD>
    <TD STYLE="width: 33%; text-autospace: none; border-bottom: Black 1pt solid; text-align: center">43017</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="text-autospace: none; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; text-autospace: none">Registrant's telephone number, including area code</TD>
    <TD STYLE="width: 66%; text-autospace: none; border-bottom: Black 1pt solid; padding-left: 0.48in">(614) 793-7500</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; text-autospace: none; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8.01.&nbsp;&nbsp;&nbsp;Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On April 17, 2012, the Compensation, Nominating
and Governance Committee (the &ldquo;Committee&rdquo;) of Navidea Biopharmaceuticals, Inc. (the &ldquo;Company&rdquo;) approved
the repurchase by the Company of a total of thirty-seven thousand five hundred (37,500) shares of the Company&rsquo;s common stock,
$.001 par value (&ldquo;Common Stock&rdquo;), from three executives, based on the closing price of $2.69 per share for the Common
Stock on April 16, 2012, as reported by the NYSE Amex. The executives have incurred certain income tax liabilities as a result
of (1) the exercise of options to purchase Common Stock, or (2) as a result of the vesting of restricted stock; however, since
the time of the exercise or vesting events, each executive has generally been, and continues to be, prohibited, due to trading
blackouts imposed under the Company&rsquo;s Securities Trading Policy for Officers, Directors and Key Employees consistent with
federal securities law guidelines, from selling shares of Common Stock on the open market in order to generate amounts necessary
to satisfy these tax obligations. In considering the tax liabilities, the Committee determined that the inability of the executives
to sell Common Stock to cover tax obligations associated with the exercise of options or the vesting of restricted stock due to
the trading blackouts created an unintended hardship that was contrary to the intent of the underlying incentive of such forms
of equity compensation. Therefore, the Committee determined that the Company could reasonably provide assistance to the executives
in meeting their tax obligations by making a one-time repurchase of shares of Common Stock. The Company completed the repurchase
of Common Stock with each executive on April 20, 2012, in the specific amounts indicated below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0"><U>Employee</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0">&nbsp;</P></TD>
    <TD STYLE="width: 8%; padding-right: 0.5in; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="width: 47%; padding-right: 0.5in; layout-grid-mode: line; text-decoration: underline">Number of Shares</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.5in; layout-grid-mode: line">Brent L. Larson</TD>
    <TD STYLE="padding-right: 0.5in; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 0.5in; layout-grid-mode: line">15,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.5in; layout-grid-mode: line">Rodger A. Brown</TD>
    <TD STYLE="padding-right: 0.5in; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 0.5in; layout-grid-mode: line">15,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.5in; layout-grid-mode: line">Thomas H. Tulip</TD>
    <TD STYLE="padding-right: 0.5in; layout-grid-mode: line">&nbsp;</TD>
    <TD STYLE="padding-right: 0.5in; layout-grid-mode: line">7,500</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;Navidea Biopharmaceuticals, Inc.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 2%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; width: 32%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -3.75pt; text-autospace: none">Date: April 23, 2012</TD>
    <TD STYLE="text-autospace: none">By:</TD>
    <TD STYLE="text-autospace: none; text-decoration: none; border-bottom: Black 1pt solid">/s/ Brent L. Larson</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Brent L. Larson, Senior Vice President and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Chief Financial Officer</P>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
April 17, 2012
NAVIDEA BIOPHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware
001-35076
31-1080091
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
425 Metro Place North, Suite 450, Dublin, Ohio
43017
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
(614) 793-7500
(Former name or former address, if changed
since last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01.   Other Events.
On April 17, 2012, the Compensation, Nominating
and Governance Committee (the "Committee") of Navidea Biopharmaceuticals, Inc. (the "Company") approved
the repurchase by the Company of a total of thirty-seven thousand five hundred (37,500) shares of the Company's common stock,
$.001 par value ("Common Stock"), from three executives, based on the closing price of $2.69 per share for the Common
Stock on April 16, 2012, as reported by the NYSE Amex. The executives have incurred certain income tax liabilities as a result
of (1) the exercise of options to purchase Common Stock, or (2) as a result of the vesting of restricted stock; however, since
the time of the exercise or vesting events, each executive has generally been, and continues to be, prohibited, due to trading
blackouts imposed under the Company's Securities Trading Policy for Officers, Directors and Key Employees consistent with
federal securities law guidelines, from selling shares of Common Stock on the open market in order to generate amounts necessary
to satisfy these tax obligations. In considering the tax liabilities, the Committee determined that the inability of the executives
to sell Common Stock to cover tax obligations associated with the exercise of options or the vesting of restricted stock due to
the trading blackouts created an unintended hardship that was contrary to the intent of the underlying incentive of such forms
of equity compensation. Therefore, the Committee determined that the Company could reasonably provide assistance to the executives
in meeting their tax obligations by making a one-time repurchase of shares of Common Stock. The Company completed the repurchase
of Common Stock with each executive on April 20, 2012, in the specific amounts indicated below:
Employee
Number of Shares
Brent L. Larson
15,000
Rodger A. Brown
15,000
Thomas H. Tulip
7,500
2
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Navidea Biopharmaceuticals, Inc.
Date: April 23, 2012
By:
/s/ Brent L. Larson
Brent L. Larson, Senior Vice President and
Chief Financial Officer
3