Form 4: Tidewater Inc. Executive Daniel A. Hudson Reports Stock Transactions

Daniel A. Hudson, EVP & General Counsel of Tidewater Inc., reports acquisition and disposal of company stock related to vesting of performance restricted stock units and a new grant of restricted stock units.

Summary

• On March 18, 2025, Daniel A. Hudson, EVP & General Counsel of Tidewater Inc., reported transactions involving Tidewater's common stock.
• Hudson acquired 22,558 shares at $41.33 each upon the vesting and settlement of Performance Restricted Stock Units (PRSUs) awarded on March 10, 2022.
• These PRSUs were tied to Tidewater's relative Total Shareholder Return (TSR) compared to a peer group over a three-year period from January 1, 2022, to December 3, 2024.
• The Compensation & Human Capital Committee certified the TSR performance at the maximum level, resulting in the PRSUs vesting at 200% of the target amount.
• 8,990 shares were withheld for tax payments related to the vesting of these PRSUs, at a price of $41.33.
• Hudson also acquired 10,283 restricted stock units that vest pro-rata per year on each of March 22, 2026, 2027, and 2028.
• Following these transactions, Hudson directly owns 93,743 shares of Tidewater Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive due to the vesting of PRSUs at a high level, indicating strong performance. The grant of additional restricted stock units also contributes to a positive outlook.

Positives

• The vesting of PRSUs at 200% indicates strong performance relative to Tidewater's peer group over the three-year performance period.
• The grant of additional restricted stock units suggests continued confidence in Hudson's role and the company's future.

Negatives

• The withholding of 8,990 shares for tax obligations reduces the net gain from the vesting of the PRSUs.

Future Outlook

The document indicates future vesting dates for restricted stock units in 2026, 2027, and 2028, suggesting continued equity-based compensation for the executive.

Industry Context

This filing is a routine disclosure of executive stock transactions, common in publicly traded companies. The vesting of PRSUs tied to TSR aligns executive compensation with shareholder value creation.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards like PRSUs to incentivize executives to achieve specific financial or strategic goals.
• Companies like Schlumberger, Halliburton, and Baker Hughes also utilize similar compensation structures to align executive interests with shareholder returns.
• The vesting of PRSUs at 200% suggests Tidewater's TSR performance significantly exceeded its peer group during the performance period, indicating strong relative performance.

Stakeholder Impact

• Shareholders may view the vesting of PRSUs at 200% as a positive sign, reflecting strong company performance.
• Employees may be motivated by the company's success and the alignment of executive compensation with performance.

Key Dates

Keywords

Tidewater Inc., Daniel A. Hudson, Form 4, Stock Transaction, Performance Restricted Stock Units, Restricted Stock Units, TSR, Vesting, Executive Compensation