Tidewater (TDW) Board Member Boosts Stake with 655 Shares, Form 4 Filed

Rhea-AI Filing Summary

Form 4 filing overview – Tidewater Inc. (TDW)

Director Melissa Cougle reported the acquisition of 655 shares of Tidewater common stock on 1 July 2025. The shares were issued in lieu of cash compensation under the company’s Director Stock Election Program at an indicated value of $47.70 per share. Following this routine, non-open-market transaction, Cougle’s total beneficial ownership rises to 23,239 shares, held directly.

No derivative securities were involved, and the filing does not disclose any sales, option grants, or 10b5-1 trading plans. As this represents a modest increase of approximately 2.9 % in the director’s personal holdings, the market impact is expected to be limited; however, such stock-for-fees elections may signal continued board-level confidence in Tidewater’s equity.

Positive

• Director increased direct ownership by 655 shares, modestly strengthening alignment with shareholder interests.

Negative

• None.

Insights

Equity Compensation Analyst

TL;DR – Routine board stock compensation; neutral-to-slightly positive signal.

The filing records an automatic issuance of shares for director fees rather than a discretionary purchase. While the 655-share addition is immaterial (<$35k), opting for equity aligns the director’s incentives with shareholders and may be interpreted as confidence in TDW’s prospects. Because no open-market buying pressure or derivative activity occurred, the event has minimal valuation impact. Overall effect: neutral, with a minor positive governance nuance.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cougle Melissa

(Last) (First) (Middle)

842 WEST SAM HOUSTON PARKWAY NORTH

SUITE 400

(Street)

HOUSTON TX 77024

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TIDEWATER INC [ TDW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.001 par value	07/01/2025		A		655(1)	A	$47.7	23,239	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares of Common Stock, $0.001 par value per share, issued to Ms. Cougle in lieu of certain cash compensation pursuant to her election under the Director Stock Election Program.

	/s/ Daniel A. Hudson, Attorney-in-Fact	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Tidewater (TDW) shares did Director Melissa Cougle acquire?

She received 655 shares of common stock on 1 July 2025.

Was the TDW transaction an open-market purchase?

No. The shares were issued in lieu of cash director fees under the Director Stock Election Program.

What is Melissa Cougle’s total TDW shareholding after the transaction?

Her beneficial ownership increased to 23,239 shares, held directly.

Did the Form 4 include any derivative securities or option grants?

No; Table II shows no derivative securities were acquired or disposed of.

Does this Form 4 affect Tidewater’s earnings outlook?

The filing relates solely to director compensation and has no direct impact on earnings or guidance.

What was the reference price per TDW share in the filing?

The shares were valued at $47.70 per share for compensation purposes.