Company: TDDWW
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024640
Chunk: 29

Company: TIDEWATER INC
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 Pension benefits recognized in OCI   1,213   (357)
 Balance at June 30, 2025 and 2024  $7,273  $5,062 

   Dilutive Equity Instruments
    
   The following table presents the changes in the number of common shares, incremental “in-the-money” warrants and restricted stock units:

     Total shares outstanding including warrants and restricted stock units   June 30, 2025    June 30, 2024  
 Common shares outstanding   49,481,018   52,487,862 
 New creditor warrants (strike price $0.001 per common share)   76,175   76,175 
 GulfMark creditor warrants (strike price $0.01 per common share)   72,984   81,179 
 Restricted stock units   661,893   689,806 
 Total   50,292,070   53,335,022 

   At  June 30, 2024, we also had 782,993 “out-of-the-money” warrants outstanding and exercisable for 861,292 shares (based on a 1 warrant to a 1.1 share ratio) with an exercise price of $100.00, which expired  November 14, 2024. No warrants or restricted stock units, whether in the money or out of the money, are included in our earnings per share calculations if the effect of such inclusion is antidilutive.
    
   Common Stock Repurchases
    
   On  February 27, 2025, our Board of Directors (Board) approved a new $90.3 million share repurchase program. During the three months ended  June 30, 2025, we repurchased and retired 1,379,723 shares for approximately $50.8 million excluding commissions and a 1% excise tax. During the six months ended  June 30, 2025, we repurchased and retired 2,290,204 shares for approximately $90.0 million, excluding commissions and a 1% excise tax. During 2024, our Board approved several share repurchase programs aggregating $90.7 million. During the year ended  December 31, 2024, we repurchased and retired 1,384,186 shares for approximately $90.7 million, excluding commissions