John T. Rynd was the CEO of Tidewater, Inc., starting from March 5, 2018, until his retirement on September 3, 2019. He joined Tidewater during a crucial time, as the company was looking to stabilize after a rough patch. Before...

John T. Rynd was the CEO of Tidewater, Inc., starting from March 5, 2018, until his retirement on September 3, 2019. He joined Tidewater during a crucial time, as the company was looking to stabilize after a rough patch. Before Tidewater, he held significant positions in the offshore drilling industry at Hercules Offshore, where he also served as CEO. His leadership experience stretches across various roles in notable companies like Noble Drilling Services. During his time as CEO, Rynd received a total compensation of approximately $4.35 million in 2019, which included a base salary of $400,000 and a substantial amount of vested stock. Notably, Rynd had an employment agreement that initially set his salary and offered performance-based stock options tied to the company’s cash flow performance, highlighting Tidewater’s focus on sustainable growth. His tenure is marked by significant efforts in rebuilding the company after economic challenges, aiming to enhance operational performance and ensure financial stability.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Tidewater CEOs

T

John T. Rynd

Ex-CEO of Tidewater

Education

N/A

Field of Expertise

Business & Management

Sector of Economy

Energy

Born

February 12, 1958 - 67 years ago

CEO of Tidewater for

1 year 5 months (Mar 2018 - Sep 2019)

Previous Experience

Various roles in the energy industry, including CEO and President of Tidewater.

Rivals

Competitors/colleagues of John T. Rynd

H

Jeffrey A. Miller

CEO of Halliburton

2023 Compensation

Stock

$27.46M

Salary

$1.60M

Bonus

$0.00

Other

$659.12K

Total Holdings

$29.98M

S

Olivier Le Peuch

CEO of Schlumberger

2023 Compensation

Stock

$0.00

Salary

$1.55M

Bonus

$3.50M

Other

$174.85K

Total Holdings

$56.26M

V

Anton Dibowitz

CEO of Valaris

2022 Compensation

Stock

$0.00

Salary

$950.00K

Bonus

$0.00

Other

$14.09K

Total Holdings

$8.62M

N

Clay C. Williams

CEO of NOVA, Inc.

2023 Compensation

Stock

$5.69M

Salary

$990.30K

Bonus

$1.58M

Other

$18.68K

Total Holdings

$19.51M

T

Douglas Pferdehirt

CEO of TechnipFMC

2023 Compensation

Stock

$11.89M

Salary

$1.33M

Bonus

$2.96M

Other

$341.93K

Total Holdings

$71.35M

H

Owen Kratz

CEO of Helix Energy Solutions Group

2023 Compensation

Stock

$600.00K

Salary

$500.00K

Bonus

$150.00K

Other

$25.00K

Total Holdings

$55.80M

Holdings

See how much did John T. Rynd make over time.

During his time at Tidewater, John T. Rynd managed significant equity holdings, particularly in restricted stock units (RSUs). When he retired in September 2019, he had 106,741 vested shares valued at over $1.6 million. His wealth mostly resided in these...

During his time at Tidewater, John T. Rynd managed significant equity holdings, particularly in restricted stock units (RSUs). When he retired in September 2019, he had 106,741 vested shares valued at over $1.6 million. His wealth mostly resided in these holdings, which showcased his confidence in the company's future during his leadership. At the start of his tenure in 2018, there were speculations about company recovery following turbulent market conditions. This fluctuation highlights Rynd's role in steering the company toward stabilization. Despite his departure, the vesting of stock units ensures he retains a financial connection to Tidewater's progress even after his active role ended.

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Insider Trading

See recent insider trades of John T. Rynd.

TDW

$58.25K

TDW at $23.30/share

May 24, 2019

Purchase

TDW

44,898 shares

TDW

Apr 15, 2019

Received

TDW

43,376 shares

TDW

Mar 5, 2018

Received

Compensation History

See how much did John T. Rynd make over time.

John T. Rynd's compensation as CEO of Tidewater included a mix of salary, stock, and other benefits. In 2019, his total compensation was around $4.35 million. This was made up of a base salary of $400,000, with no bonuses earned that year due to the company's negative cash flow from operations. He also had a sizable stock plan, with 106,741 RSUs vesting upon his retirement. His employment agreement was designed to include performance-based metrics, meaning his stock's value was closely tied to the company's operational performance. This structure reflects an alignment between Rynd’s financial incentives and the company’s goals, as he was set to gain significant equity benefits if Tidewater performed well financially.

Year

2019

Total Compensation

$3.23M

Salary

$400.00K

Board Justification

The compensation philosophy emphasizes performance-based compensation aligned with company performance and retention strategies, while managing fixed costs through conservative base salaries and at-risk incentives.

Bonus

$0.00

Board Justification

No bonuses were earned under the 2019 STI program due to negative cash flow from operations.

Other

$1.21M

Board Justification

This includes a cash severance equal to one year’s base salary plus target bonus, contingent upon compliance with certain post-employment restrictive covenants, and full acceleration of his initial equity award (with performance deemed at target for the performance-based portion of that award).

Restricted Stock

$1.62M(106.74K RSU)

Board Justification

The vesting of these RSUs was accelerated on Mr. Rynd’s retirement date of September 3, 2019; however, these RSUs will settle and pay out in shares on March 3, 2020.

Performance Metrics

The performance metrics included cash flow from operations, safety performance, and individual performance goals.

Other Tidewater CEOs

Here are other CEOs of Tidewater

Quintin V. Kneen

CEO of Tidewater

September 2019 - Present