8-KThe WireRed Alert
Executive Change · Shareholder Vote
Filed Jun 11, 2025 · 1y ago · Accession 0001104659-25-058581
Plain English
Material event — a significant development the company must disclose promptly.
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Filing text
View original ↗UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13
or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date
of earliest event reported): June 5, 2025
Tidewater Inc.
(Exact name of registrant
as specified in its charter)
Delaware
1-6311
72-0487776
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
842
West Sam Houston Parkway North , Suite
400
Houston ,
Texas
77024
(Address of principal executive offices)
(Zip Code)
Registrant’s
telephone number, including area code: ( 713 ) 470-5300
Not Applicable
(Former Name or Former
Address, If Changed Since Last Report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on which
registered
Common stock, $0.001 par value per share
TDW
New York Stock Exchange
Warrants to purchase shares of common stock
TDW.WS
NYSE American
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405) or Rule 12b-2
of the Securities Exchange Act of 1934 (§ 240.12b-2).
Emerging Growth Company ¨
If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
Tidewater
Inc. (the “ Company ”) announced today that David Darling, 70, Executive Vice President & Chief
Operating Officer, will cease serving in his role as an executive officer of the Company effective June 30, 2025 (the “ Effective
Date ”) as part of a long-term plan to facilitate the orderly succession of the Company’s executive team. Mr. Darling
will continue to provide services to the Company over the next 18 months to support the transition of his responsibilities but will no
longer be in an executive decision making or policy setting role.
In consideration for the transition services to
be provided by Mr. Darling for a period of up to 18 months following the Effective Date, Mr. Darling will be entitled to a monthly
cash payment equal to $5,000 during the transition period. Mr. Darling will also receive the severance benefits and payments that
he is entitled to pursuant to the Severance and Change of Control Agreement between the Company and Mr. Darling, dated effective
March 9, 2021, commencing as of the Effective Date.
Item 5.07 Submission of Matters to a Vote of Security Holders.
(a) On
June 5, 2025, the Company held its 2025 annual meeting of stockholders (“ Annual Meeting ”) virtually via
a live audio webcast.
(b) As
of April 11, 2025, the record date for the Annual Meeting, the Company had 50,853,374 shares of common stock outstanding and
entitled to vote. Of this number, 44,647,864 shares were represented in person or by proxy at the Annual Meeting, which represented
87.79% of the shares entitled to vote. The Company’s stockholders voted on the following three proposals at the Annual
Meeting, detailed descriptions of which are contained in the 2025 Proxy Statement (“ Proxy Statement ”),
casting their votes as described below.
Proposal 1: Election of Eight Directors
Each of the eight individuals listed below was elected at
the Annual Meeting to serve a one-year term on the Company’s Board of Directors.
Director Nominee
Votes For
Votes Against
Abstentions
Broker
Non-Votes
Darron M. Anderson
38,486,209
66,867
29,522
6,064,021
Melissa Cougle
38,437,831
116,096
28,671
6,064,021
Dick H. Fagerstal
37,797,893
753,760
30,945
6,064,021
Quintin V. Kneen
38,501,119
52,570
28,909
6,064,021
Louis A. Raspino
38,329,940
223,127
29,531
6,064,021
Robert E. Robotti
37,818,730
742,537
21,331
6,064,021
Kenneth H. Traub
36,912,447
1,638,546
31,605
6,064,021
Lois K. Zabrocky
38,385,215
168,124
29,259
6,064,021
Proposal 2: Advisory Vote on Executive
Compensation
Proposal 2 was an advisory vote on the executive
compensation of our named executive officers as disclosed in the Proxy Statement. This advisory vote was approved.
Votes For
Votes Against
Abstentions
Broker
Non-Votes
37,143,547
546,088
892,963
6,064,021
Proposal 3: Ratification of Selection of Independent Registered
Public Accounting Firm
Proposal 3 was a
proposal to ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting
firm for the fiscal year ending December 31, 2025. This proposal was approved.
Votes For
Votes Against
Abstentions
44,556,607
67,046
22,966
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
TIDEWATER INC.
Date: June 11, 2025
By:
/s/ Daniel A. Hudson
Daniel A. Hudson
Executive Vice President, General Counsel and Corporate Secretary
Filing details
- Company
- TIDEWATER INC
- Ticker
- TDW
- CIK
- 98222
- Form type
- 8-K
- Filing date
- Jun 11, 2025
- Report date
- Jun 5, 2025
- Document
- tm2517763d1_8k.htm
- Size
- 249 KB