Tidewater (TDW) Director Robert Robotti Sells Shares, Gifts Stock

What Happened

• Robert Robotti, a director of Tidewater, sold 10,300 shares in two open-market transactions on September 16, 2026 (6,695 shares and 3,605 shares) at $89.85 per share for aggregate proceeds of about $925,449. On the same date he also donated 1,951 shares (reported as a gift with $0 consideration). The Form 4 was amended to correct the filing code for the first transaction.

Key Details

• Transaction date: September 16, 2026.
• Sales: 6,695 shares @ $89.85 = $601,542; 3,605 shares @ $89.85 = $323,907. Total sold = 10,300 shares for ~$925,449.
• Gift: 1,951 shares reported as a gift (no cash proceeds).
• Filing: Amended on Sept 18, 2026 to correct the first transaction code (original Form 4 was filed Sept 17, 2026).
• Ownership after transactions: the filing aggregates Robotti-related beneficial ownership at roughly 2.20 million shares across related entities and accounts (see footnotes for breakdown).
• Relevant footnotes: the gifted shares were owned by a performance-fee-paying advisory client of Robotti & Company Advisors and the gift terminated Robotti Advisors’ advisory relationship for those shares. Robotti may be deemed to beneficially own shares through his roles and family relationships but disclaims ownership except for any pecuniary interest.

Context

• Sales were open-market dispositions (routine liquidity) and produced substantial proceeds; such sales are not in themselves a clear signal of company outlook. Gifts are non-market transfers and do not necessarily reflect investment sentiment.
• The amendment corrects reporting details; there’s no indication this was a late disclosure beyond the correction.