Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 292

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 292
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 included a volatility measure of 63%, a zero percent yield, a 1.5% discount rate and a market value of the underlying stock on the grant date of $5.81 per share. On  March 22, 2021, the Board awarded the CEO an additional 259,158 options to acquire our common stock for $18.09 per share. The fair value of the options on the grant date was $3.69 per share based on a Black-Scholes calculation that included a volatility measure of 47.5%, a 2% yield, a 1.03% discount rate and a market value of the underlying stock on the grant date of $12.72 per share. Both options had terms of ten years vesting in equal amount over three years. All stock options were fully vested and exercised in the first quarter of 2024 and none remained outstanding or exercisable as of  December 31, 2024.

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    (11)  STOCKHOLDERS’ EQUITY 

   Common Stock 
    
   The number of shares of authorized and issued common stock and preferred stock are as follows:

       December 31,    December 31,  
   2024    2023  
 Common stock shares authorized   125,000,000   125,000,000 
 Common stock par value  $0.001  $0.001 
 Common stock shares issued   51,461,472   52,259,303 
 Preferred stock shares authorized   3,000,000   3,000,000 
 Preferred stock 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