TIDEWATER INC — Director's Dealing 2003

Nov 21, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2003-11-20

Reporting Person: LEONARD J WAYNE (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-20	Stock Option (Right to Buy)	$26.80	M	5000	Acquired	2013-11-20	Common Stock (5000)	Direct

Footnotes

F1: Stock option granted under the Tidewater Inc. 2001 Stock Incentive Plan. The Plan pursuant to which the reported option was granted provides for tax withholding rights.