TIDEWATER INC — Director's Dealing 2007

Apr 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2007-03-31

Reporting Person: SUTTON NICHOLAS J (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-31	Deferred Stock Units	$	A	1193	Acquired		Common Stock (1193)	Direct

Footnotes

F1: Each deferred stock unit represents the right to receive the fair market value of one share of the Issuer's common stock in cash.

F2: The deferred stock units vest immediately upon grant, but will not be paid out until the earlier of 15 days following the date the Reporting Person ceases to be a director, or upon a change of control of the Issuer.