Quintin Kneen - Mar 21, 2024 Form 4 Insider Report for TIDEWATER INC (TDW)

Role
DIRECTOR, PRESIDENT & CEO, Director
Signature
/s/ Daniel A. Hudson, Attorney-in-Fact
Stock symbol
TDW
Transactions as of
Mar 21, 2024
Transactions value $
-$20,360,485
Form type
4
Date filed
3/25/2024, 07:00 PM
Previous filing
Mar 12, 2024
Next filing
May 9, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TDW Common Stock, $0.001 par value Award $0 +19.5K +5.87% $0.00 351K Mar 21, 2024 Direct F1
transaction TDW Common Stock, $0.001 par value Tax liability -$1.73M -19.1K -5.42% $90.87 332K Mar 22, 2024 Direct F2
transaction TDW Common Stock, $0.001 par value Options Exercise $2.23M +345K +103.7% $6.48* 677K Mar 22, 2024 Direct
transaction TDW Common Stock, $0.001 par value Tax liability -$13M -144K -21.3% $89.85 533K Mar 22, 2024 Direct F3
transaction TDW Common Stock, $0.001 par value Options Exercise $4.69M +259K +48.65% $18.09 792K Mar 22, 2024 Direct
transaction TDW Common Stock, $0.001 par value Tax liability -$12.6M -140K -17.7% $89.85 652K Mar 22, 2024 Direct F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TDW Stock Option (right to buy) Options Exercise $0 -345K -56.33% $0.00 267K Mar 22, 2024 Common Stock, $0.001 par value 345K $6.48 Direct F5
transaction TDW Stock Option (right to buy) Options Exercise $0 -259K -97% $0.00 8.03K Mar 22, 2024 Common stock, $0.001 par value 259K $18.09 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a grant of restricted stock units that vest pro-rata per year on each of March 22, 2025, 2026, and 2027.
F2 Represents shares withheld to cover taxes due upon the vesting of restricted stock units.
F3 Represents a "net exercise" of outstanding stock options. The reporting person received 200,441 shares of common stock on a net exercise of an option to purchase 344,598 shares of common stock. The Company withheld 144,157 shares of common stock for payment of the exercise price and tax withholdings, using the closing stock price on March 21, 2024 of $89.85, pursuant to the terms of the Company's 2017 Stock Incentive Plan.
F4 Represents a "net exercise" of outstanding stock options. The reporting person received 118,969 shares of common stock on a net exercise of an option to purchase 259,158 shares of common stock. The Company withheld 140,189 shares of common stock for payment of the exercise price and tax withholdings, using the closing stock price on March 21, 2024 of $89.85, pursuant to the terms of the Company's 2017 Stock Incentive Plan.
F5 The stock option award vested as to 1/3 of the total number of shares on April 20, 2021, April 20, 2022 and April 20, 2023.
F6 The stock option award vested as to 1/3 of the total number of shares on March 22, 2022, March 22, 2023 and March 22, 2024.