TIDEWATER INC - Director's Dealing 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2007-07-05

Reporting Person: DICK STEPHEN W (Executive Vice President)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-05	Common Stock	M	35000	$40.280	Acquired	75564	Direct
2007-07-05	Common Stock	S	35000	$73.00	Disposed	40564	Direct
2007-07-06	Common Stock	M	17500	$44	Acquired	58064	Direct
2007-07-06	Common Stock	S	17500	$73.5	Disposed	40564	Direct
2007-07-06	Common Stock	M	25000	$45.625	Acquired	65564	Direct
2007-07-06	Common Stock	S	25000	$74	Disposed	40564	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-07-05	Stock Option (Right to Buy)	$40.280	M	35000	Disposed	2012-03-27	Common Stock (35000)	Direct
2007-07-06	Stock Option (Right to Buy)	$44	M	17500	Disposed	2011-03-29	Common Stock (17500)	Direct
2007-07-06	Stock Option (Right to Buy)	$45.625	M	25000	Disposed	2008-03-26	Common Stock (25000)	Direct

F1: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously entered into by the Reporting Person.

F2: The options vested in three equal annual installments beginning on the date indicated