Form 4: Tidewater Inc. Executive Samuel R. Rubio Reports Stock Grant and Tax Withholding

EVP, CFO & CAO of Tidewater Inc., Samuel R. Rubio, reports the acquisition of 5,565 shares of common stock through a restricted stock unit grant and the disposal of 10,177 shares for tax withholding purposes.

Summary

• On March 21, 2024, Samuel R. Rubio, EVP, CFO & CAO of Tidewater Inc., acquired 5,565 shares of common stock due to a restricted stock unit grant.
• These restricted stock units vest pro-rata per year on March 22, 2025, 2026, and 2027.
• On March 22, 2024, Mr. Rubio disposed of 10,177 shares of common stock at a price of $90.87 per share.
• This disposal was to cover taxes due upon the vesting of restricted stock units.
• Following these transactions, Mr. Rubio beneficially owns 88,923 shares of Tidewater Inc. common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing indicating stock transactions related to executive compensation. The stock grant is a positive, but the sale to cover taxes is a neutral event.

Positives

• The grant of restricted stock units to a key executive like the CFO can be seen as a positive sign, aligning their interests with the long-term performance of the company.

Negatives

• The disposal of shares to cover taxes, while a common practice, could be interpreted negatively if investors believe the executive is reducing their stake in the company.

Risks

• There are no specific risks mentioned in this document.
• However, any significant disposal of shares by key executives could potentially create uncertainty among investors.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It doesn't provide specific insights into Tidewater's performance relative to its industry peers.

Comparison to Industry Standards

• Executive compensation packages, including restricted stock units, are a standard practice among publicly traded companies, including Tidewater's competitors in the offshore energy services sector.
• Companies like Schlumberger, Halliburton, and TechnipFMC also utilize stock-based compensation to incentivize and retain key executives.
• The vesting schedules and terms of these grants are typically benchmarked against industry standards to ensure competitiveness.

Stakeholder Impact

• The stock grant aligns executive interests with shareholder value.
• The tax-related sale has a negligible impact on other stakeholders.

Key Dates