TIDEWATER INC — Director's Dealing 2006

Apr 1, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2006-03-29

Reporting Person: LEONARD J WAYNE (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-03-29	Stock Option (Right to Buy)	$55.76	A	5000	Acquired	2016-03-29	Common Stock (5000)	Direct

Footnotes

F1: Director stock option granted under the Tidewater Inc. 2001 Stock Incentive Plan in a transaction exempt under Rule 16b-3. The Plan pursuant to which the reported option was granted provides for tax withholding rights.