Tidewater paid its top-five executives 11.9% less in the 2016 fiscal year as their stock and option awards slumped.

A TradeWinds analysis of the New York-listed offshore vessel giant's executive compensation data shows that the company paid just over $11.2m to its top executives, a slump from $12.7m last year.

The prior year's figure also represented a 9.5% decline from the $14.1m