TIDEWATER INC — Director's Dealing 2011

Jul 8, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TIDEWATER INC (TDW)
CIK: 0000098222
Period of Report: 2011-07-07

Reporting Person: TAYLOR DEAN E (Director, President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-07-07	Common Stock	M	7	$28.33	Acquired	183749	Direct
2011-07-07	Common Stock	S	7	$54.95	Disposed	183742	Direct
2011-07-08	Common Stock	M	9993	$28.33	Acquired	193735	Direct
2011-07-08	Common Stock	S	9993	$54.95	Disposed	183742	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-07-07	Stock Option (Right to Buy)	$28.33	M	7	Disposed	2011-10-05	Common Stock (7)	Direct
2011-07-08	Stock Option (Right to Buy)	$28.33	M	9993	Disposed	2011-10-05	Common Stock (9993)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3957	Indirect
Common Stock	4408.1386	Indirect

Footnotes

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

F2: The Reporting Person disclaims beneficial ownership of these shares, and this report should not be deemed an admission that the Reporting Person is the beneficial owner of these shares for purposes of Section 16 or any other purpose.

F3: Acquired on a periodic basis by the Trustee of the Tidewater 401(k) Savings Plan. Includes shares acquired for the account through June 30, 2011.

F4: The options vested in three equal annual installments beginning on the date indicated.