Item 1.01 Entry into a Material Definitive Agreement. On June 1, 2023, Navidea Biopharmaceuticals, Inc. (the "Company") entered into a Stock Exchange Agreement with John K. Scott, Jr. (the "Stockholder"), pursuant to which the Stockholder surrendered 990 shares of Series G redeemable preferred stock ("Series G Preferred Stock") and $68,853.22 of accrued and unpaid dividends thereon in exchange for 11,969 shares of Series J convertible preferred stock ("Series J Preferred Stock"). Pursuant to the Stock Exchange Agreement, the Stockholder also agreed to surrender his remaining 2,270 shares of Series G Preferred Stock and the remaining balance of accrued and unpaid dividends thereon in exchange for 27,889 shares of Series J Preferred Stock, subject to the Company's stockholders approving the issuance of shares of the Company's common stock ("Common Stock") upon conversion of such shares of series J Preferred Stock in compliance with NYSE American listing standards.