Company: TDDWW
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001437749-25-014565
Chunk: 3

Company: TIDEWATER INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part II, Item 1A
Chunk 3
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As of the date of this filing, there have been no material changes from the risk factors disclosed in Part 1, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 27, 2025.

ITEM 2.       UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Unregistered Sales of Equity Securities

None.

Issuer Repurchases of Equity Securities

On November 5, 2023, our Board of Directors (Board) approved a $35.0 million share repurchase program, pursuant to which we repurchased and retired 590,499 shares for approximately $35.0 million, excluding commissions and a 1% excise tax, during the fourth quarter of 2023. On February 29, 2024, our Board approved a new $48.6 million share repurchase program, subsequently approving the increase of such program by $18.1 million on May 2, 2024, $13.9 million on August 6, 2024, $10.1 million on November 7, 2024 and $90.3 million on February 27, 2025. Share repurchases may take place from time to time on the open market or through privately negotiated transactions. The repurchase program may be suspended or discontinued at any time and does not have a specified expiration date.

Common stock repurchase activity for the three months ended March 31, 2025 was as follows:

      Maximum Dollar 

      Value of Shares 

      Total Number of 

      that May Yet Be 

      Total 

      Shares Purchased 

      Purchased 

      Number of 

      Average 

      as Part of Publicly 

      Under Plans or 

      Shares 

      Price Paid 

      Announced Plans 

      Programs 

      Period 

     Repurchased

     Per Share

      or Programs 

      (in thousands) 

      January 1, 2025 - January 31, 2025 

     —

     —

     —

     $
     90,328

      February 1, 2025 - February 28, 2025 

     —

     —

     —

     90,328

      March 1, 2025 - March 31, 2025 

     910,481

     $
     43.11

     910,481