Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 1221

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 6
Chunk 1221
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 par value   No par    No par  
 Preferred stock shares issued   —   — 

   Common Stock Repurchases 
    
   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, and $10.1 million on  November 7, 2024. During the year ended  December 31, 2024, we repurchased and retired 1,384,186 shares for approximately $90.7 million, excluding commissions and a 1% excise tax. No shares were repurchased during the year ended  December 31, 2022.
    
   Dividends
    
   There were no dividends declared during the years ended  December 31, 2024, 2023 and 2022.
    
   Warrants
    
   During 2017, we issued 11,543,814 New Creditor Warrants, each with an exercise price of $0.001 and exercisable for one share of our common stock. As of  December 31, 2024, we had 76,175 New Creditor Warrants outstanding. 
    
   In conjunction with the GulfMark merger, Tidewater assumed approximately 2.3 million Creditor Warrants (GLF Creditor Warrants), with an exercise price of $0.01, and approximately 0.8 million Equity Warrants (GLF Equity Warrants) with an exercise price of $100. Each GLF Creditor Warrant and GLF Equity Warrant is exercisable for 1.1 shares of Tidewater common stock on substantially the same terms and conditions as provided in the governing warrant agreements. As of  December 31, 2024, we had 77,204 GLF Creditor Warrants outstanding. The GLF