Tidewater is doubling its share price for purposes of compensating chief executive Quintin Kneen.
The OSV giant said in regulatory filings Wednesday that, despite gloomy predictions for the sector, its depressed share price is a "short-term anomaly". It chose to use a $10.99 per share figure — its 60-day trading average and more than double the $5.23 shares opened at Thursday — to determine Kneen's long-term equity award.
