Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 568

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 2
Chunk 568
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$21.64   188,580 
 Granted   85.48   132,883   90.87   43,685 
 Vested   21.52   (361,644)  —   — 
 Cancelled/forfeited   38.04   (9,664)  —   — 
 Non-vested balance at December 31, 2024  $39.34   470,568  $34.66   232,265 

   Restrictions on approximately 250,000 time-based units outstanding at  December 31, 2024 will lapse during 2025.
    
   Restricted stock unit compensation expense and grant date fair value are as follows:

     (In Thousands)   Year Ended December 31,  
  2024  2023  2022 
 Grant date fair value of restricted stock units vested  $7,783  $5,407  $3,561 
 Restricted stock unit compensation expense   13,681   10,755   6,469 

   As of  December 31, 2024, total unrecognized RSU compensation costs totaled approximately $17.9 million, or $14.2 million net of tax, which will be recognized over a weighted average period of two years, compared to $14.4 million, or $11.4 million net of tax, at  December 31, 2023 and $10.0 million, $7.9 million net of tax, at  December 31, 2022. No RSU compensation costs were capitalized as part of the costs of an asset. The amount of unrecognized RSU compensation costs will be affected by any future restricted stock unit grants and by the separation of an employee who has received RSUs that are unvested as of their separation date. There were no modifications to the RSUs during the years ended  December 31, 2024, 2023 and 2022. Forfeitures are recognized as an adjustment to compensation expense for all RSUs in the same period as the forfeitures occur.
    
   Stock Options
    
   On  April 15, 2020, the Board awarded our Chief Executive Officer (CEO) 344,598 options to acquire our common stock for $6.48 per share. The fair value of the options on