Form 8-K
8-K — TIDEWATER INC
Accession: 0001104659-26-075757
Filed: 2026-06-18
Period: 2026-06-16
CIK: 0000098222
SIC: 4400 (WATER TRANSPORTATION)
Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
Item: Submission of Matters to a Vote of Security Holders
Item: Financial Statements and Exhibits
Documents
8-K — tm2618330d1_8k.htm (Primary)
EX-10.1 — EXHIBIT 10.1 (tm2618330d1_ex10-1.htm)
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8-K — FORM 8-K
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UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13
or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date
of earliest event reported): June 16,
2026
Tidewater Inc.
(Exact name of registrant
as specified in its charter)
Delaware
1-6311
72-0487776
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
842
West Sam Houston Parkway North, Suite
400
Houston,
Texas
77024
(Address of principal executive offices)
(Zip Code)
Registrant’s
telephone number, including area code: (713) 470-5300
Not Applicable
(Former Name or Former
Address, If Changed Since Last Report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common stock, $0.001 par value per share
TDW
New York Stock Exchange
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405) or Rule 12b-2
of the Securities Exchange Act of 1934 (§ 240.12b-2).
Emerging Growth Company ¨
If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On June 16, 2026, Tidewater Inc. (the
“Company”) held its 2026 annual meeting of stockholders (“Annual Meeting”). At the
Annual Meeting, the Company’s stockholders approved the First Amendment (the “First Amendment”) to the
Company’s Amended and Restated 2021 Stock Incentive Plan (the “Plan”) to increase the maximum number of
shares available for issuance thereunder by 2,250,000. The Company’s Board of Directors (the “Board”)
had previously approved the First Amendment, subject to stockholder approval. The First Amendment became effective on June 16, 2026.
The principal terms of the First Amendment
and the Plan are described in the Company’s proxy statement for the Annual Meeting, filed with the U.S. Securities and Exchange
Commission on April 28, 2026, which descriptions of the First Amendment and the Plan are incorporated herein by reference and are qualified
in their entirety by reference to the full text of the First Amendment and the Plan, as applicable. Copies of the First Amendment and
the Plan are filed as Exhibit 10.1 and Exhibit 10.2, respectively, to this Current Report on Form 8-K and are incorporated into this Item
5.02 by reference.
Item 5.07 Submission of Matters to a Vote of Security Holders.
(a)
On June 16, 2026, the Company held the Annual Meeting virtually via a live audio webcast.
(b)
As of April 17, 2026, the record date for the Annual Meeting, the Company had 49,729,815 shares of common stock outstanding and
entitled to vote. Of this number, 44,546,831 shares were represented in person or by proxy at the meeting, which represented 89.57% of
the shares entitled to vote. The Company’s stockholders voted on the following four proposals at the Annual Meeting, detailed descriptions
of which are contained in the proxy statement for the Annual Meeting, casting their votes as described below.
Proposal 1: Election of Seven Directors
Each of the seven individuals listed below was elected at
the Annual Meeting to serve a one-year term on the Company’s Board of Directors.
Director Nominee
Votes For
Votes Against
Abstentions
Broker
Non-Votes
Melissa Cougle
40,703,580
80,892
159,698
3,602,661
Dick H. Fagerstal
39,533,810
1,388,557
21,803
3,602,661
Quintin V. Kneen
40,741,589
184,358
18,223
3,602,661
Louis A. Raspino
40,600,223
184,248
159,699
3,602,661
Robert E. Robotti
39,967,442
959,888
16,840
3,602,661
Kenneth H. Traub
38,776,714
2,145,629
21,827
3,602,661
Lois K. Zabrocky
40,707,753
76,858
159,559
3,602,661
Proposal 2: Advisory Vote on Executive Compensation
Proposal 2 was an advisory vote on
the executive compensation of our named executive officers as disclosed in the proxy statement for the Annual Meeting. This advisory vote
was approved.
Votes For
Votes Against
Abstentions
Broker Non-Votes
40,548,175
362,605
33,390
3,602,661
Proposal 3: Approval of the First Amendment to the Company’s
Amended and Restated 2021 Stock Incentive Plan
Proposal 3 was a proposal to approve
the First Amendment to the Company’s Amended and Restated 2021 Stock Incentive Plan to increase the maximum number of shares available
for issuance thereunder by 2,250,000. This proposal was approved.
Votes For
Votes Against
Abstentions
Broker Non-Votes
38,986,062
1,935,390
22,718
3,602,661
Proposal 4: Ratification of Selection of Independent Registered
Public Accounting Firm
Proposal 4 was a proposal to ratify
the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year
ending December 31, 2026. This proposal was approved.
Votes For
Votes Against
Abstentions
43,799,406
730,093
17,332
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
10.1
First Amendment to the Tidewater Inc. Amended and Restated 2021 Stock Incentive Plan
10.2
Tidewater Inc. Amended and Restated 2021 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on May 21, 2021, File No. 1-6311)
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
TIDEWATER INC.
Date: June 18, 2026
By:
/s/ Daniel A. Hudson
Daniel A. Hudson
Executive Vice President, Chief Legal Officer and Corporate
Secretary
EX-10.1 — EXHIBIT 10.1
EX-10.1
Filename: tm2618330d1_ex10-1.htm · Sequence: 2
Exhibit 10.1
FIRST AMENDMENT TO THE
TIDEWATER INC. AMENDED AND RESTATED 2021 STOCK
INCENTIVE PLAN
This Amendment No. 1 (this
“Amendment”) to the Tidewater Inc. (the “Company”) Amended and Restated 2021 Stock Incentive Plan (the “Plan”)
is adopted by the Board of Directors (“Board”) of the Company on April 27, 2026. This Amendment will become effective upon
approval by the stockholders of the Company at the Company’s 2026 annual meeting of stockholders.
WHEREAS, the Plan was initially
adopted by the Board and became effective on June 8, 2021 following approval by the stockholders of the Company;
WHEREAS, the Board desires
to amend the Plan, subject to approval by the stockholders of the Company, to increase the number of shares of Company common stock, $0.001
par value per share (“Common Stock”), available for issuance under the Plan;
WHEREAS, pursuant to Section
13.8 of the Plan, the Board may amend the Plan as it deems necessary or appropriate, and shall seek the approval of the stockholders of
the Company for any amendment to the Plan to the extent the Board deems appropriate, necessary or required under the Plan; and
WHEREAS, if the Company’s
stockholders fail to approve this Amendment, the current Plan shall continue in full force and effect.
NOW, THEREFORE, subject to
stockholder approval at the Company’s annual meeting being held on June 16, 2026, the Plan is hereby amended as follows, effective
June 16, 2026:
1. Section 5.1 of the Plan is deleted and replaced in its entirety with the following:
“5.1 Number of Shares.
Subject to adjustment as provided in Section 13.4, the maximum number of shares of Common Stock that may be delivered to participants
and their permitted transferees under the Plan shall be 4,750,000 shares, plus the number of shares of Common Stock underlying any award
granted under the Tidewater Inc. 2017 Stock Incentive Plan or the Tidewater Inc. Legacy GLF Management Incentive Plan that expires, terminates,
or is canceled or forfeited under the terms of the Tidewater Inc. 2017 Stock Incentive Plan or the Tidewater Inc. Legacy GLF Management
Incentive Plan.”
2. Except as set forth in this Amendment, all other terms and conditions of the Plan shall remain in full
force and effect.
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