Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 888

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 5
Chunk 888
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 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 the grant date was $3.23 per share based on a Black-Scholes calculation that 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