Neuberger Berman Reports 0% Sole Voting Power in Tidewater Inc.

TL;DR

**Neuberger Berman has zero sole voting power in Tidewater as of year-end 2023.**

AI Summary

Neuberger Berman Group LLC, a Delaware-incorporated investment firm, filed an SC 13G on February 12, 2024, indicating its beneficial ownership in Tidewater Inc. as of December 31, 2023. While the filing shows Neuberger Berman Group LLC as the reporting person, it explicitly states they hold 0 shares with sole voting power. This matters to investors as it clarifies the firm's current voting influence, which is none, despite being listed as a reporting entity.

Why It Matters

This filing confirms that Neuberger Berman Group LLC does not hold any sole voting power in Tidewater Inc., which can influence perceptions of institutional interest and control.

Risk Assessment

Risk Level: low — The filing indicates no significant change in ownership or control, posing minimal risk to current investors.

Analyst Insight

Investors should note that Neuberger Berman Group LLC, despite being a significant investment firm, does not currently exert sole voting influence over Tidewater Inc. based on this filing. This suggests no immediate change in control or activist pressure from this entity.

Key Numbers

• 0 — Sole Voting Power Shares (Number of shares with sole voting power held by Neuberger Berman Group LLC in Tidewater Inc.)
• December 31, 2023 — Date of Event (The date for which the ownership information is reported.)
• February 12, 2024 — Filing Date (The date the SC 13G was filed with the SEC.)

Key Players & Entities

• Neuberger Berman Group LLC (company) — reporting person
• Tidewater Inc. (company) — subject company
• Neuberger Berman Investment Advisers LLC (company) — group member
• 01 Energy & Transportation (company) — subject company organization name

Forward-Looking Statements

• Neuberger Berman Group LLC will maintain its current reported sole voting power of 0 shares in Tidewater Inc. in the near term. (Neuberger Berman Group LLC) — high confidence, target: Q2 2024

FAQ

Filing Documents

• formsc13g-02122024_070215.htm (SC 13G) — 52KB
• 0001415889-24-003307.txt ( ) — 54KB

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Neuberger Berman Group LLC and its affiliates may be deemed to be beneficial owners of securities for purposes of Exchange Act Rule 13d-3 because they or certain affiliated persons have shared power to retain, dispose of or vote the securities of unrelated clients. Neuberger Berman Group LLC or its affiliated persons do not, however, have any economic interest in the securities of those clients. The clients have the sole right to receive and the power to direct the receipt of dividends from or proceeds from the sale of such securities. Other than named in this filing, no one client has an interest of more than 5% of the issuer. With regard to the shares set forth under item 4(c)(ii), Neuberger Berman Group LLC may be deemed to be the beneficial owner for purposes of Rule 13d-3 because certain affiliated persons have shared power to retain, dispose of and vote the securities. In addition to the holdings of individual advisory clients, Neuberger Berman Investment Advisers LLC serves as investment manager of Neuberger Berman Group LLC's various registered mutual funds which hold such shares. The holdings belonging to clients of Neuberger Berman Trust Co N.A., Neuberger Berman Trust Co of Delaware N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC and Neuberger Berman Investment Advisers LLC are also aggregated to comprise the holdings referenced herein. In addition to the shares set forth under Item 4(c)(ii) for which Neuberger entities also have shared power to dispose of the shares, item 4(c)(iv) also includes shares from individual client accounts over which Neuberger Berman Investment Advisers LLC has shared power to dispose but does not have voting power over these shares. The holdings of Neuberger Berman Trust Co N.A., Neuberger Berman Trust Co of Delaware N.A., Neuberger Berman Asia Ltd., Neuberger Berman Canada ULC and Neuberger Berman Investment Advisers LLC, are also aggre

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. N/A

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. N/A

Certification

Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 12, 2024 Neuberger Berman Group LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director Date: February 12, 2024 Neuberger Berman Investment Advisers LLC By: /s/ Brad Cetron Name: Brad Cetron Title: Managing Director

View Full Filing

View this SC 13G filing on SEC EDGAR