TIDEWATER INC — Director's Dealing 2007

Jun 18, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2007-06-15

Reporting Person: LABORDE CLIFFE F (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-15	Common Stock	M	5000	$55.76	Acquired	22125	Direct
2007-06-15	Common Stock	S	600	$69.93	Disposed	21525	Direct
2007-06-15	Common Stock	S	1100	$69.94	Disposed	20425	Direct
2007-06-15	Common Stock	S	600	$69.95	Disposed	19825	Direct
2007-06-15	Common Stock	S	100	$69.96	Disposed	19725	Direct
2007-06-15	Common Stock	S	1600	$69.97	Disposed	18125	Direct
2007-06-15	Common Stock	S	1000	$69.98	Disposed	17125	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-15	Stock Option (Right to Buy)	$55.76	M	5000	Disposed	2016-03-29	Common Stock (5000)	Direct

Footnotes

F1: The options vest according to the following schedule: 5,000 vest on March 29, 2006; 5,000 vest on March 29, 2008; and 5,000 vest on March 29, 2009.