TIDEWATER INC — Director's Dealing 2009

May 15, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2009-05-14

Reporting Person: Demarest Craig (Principal Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-05-14	Common Stock	F	1092	$43.53	Disposed	17400	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	428.1994	Indirect

Footnotes

F1: Withholding of shares to pay taxes.

F2: Acquired on a periodic basis by the Trustee of the Tidewater Inc. 401(k) Savings Plan. Includes shares acquired for the account through April 30, 2009.