Company: TDDWW
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001104659-25-038699
Chunk: 0

Company: TIDEWATER INC
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 0
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TABLE OF CONTENTS UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934
(Amendment No. ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☒ Definitive Proxy Statement ☐ Definitive Additional Materials ☐ Soliciting Material under §240.14a-12 TIDEWATER INC. (Name of Registrant as Specified in Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): ☒ No fee required ☐ Fee paid previously with preliminary materials ☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11 TABLE OF CONTENTS TABLE OF CONTENTS A MESSAGE TO OUR SHAREHOLDERS FROM TIDEWATER’S PRESIDENT & CHIEF EXECUTIVE OFFICER,
QUINTIN V. KNEEN April 24, 2025 Dear Fellow Shareholders, I am pleased to invite you to our 2025 Tidewater virtual annual shareholder meeting being held on June 5, 2025. Thank you for your continued investment in Tidewater and your time considering the routine but important governance matters raised in this Proxy Statement. The 2024 fiscal year was another year of strong execution and financial performance for Tidewater. We delivered significant financial improvements: Year-over-year, our revenue grew by 33.3%, net income increased by 85.9%, adjusted EBITDA grew by 44.7%, and free cash flow increased by nearly 200%. It also marked the first full year that Tidewater actively returned capital to shareholders since 2015. We commenced our share repurchase program in the fourth quarter of 2023 and actively repurchased approximately 1.4 million shares for $90.7 million in the open market during 2024, and when combined with cash in exchange for the payment of employee taxes, culminated in $119 million of cash used to reduce the number of outstanding shares by 1.7 million. The position we hold today