TIDEWATER INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years ended March 31, 2010, 2009, and 2008  The intrinsic value of options exercised during fiscal 2010, 2009 and 2008 was $1.1 million, $4.6 million and  $39.2 million, respectively. There were 256,550, 230,493 and 229,664 stock options that vested during fiscal  2010, 2009 and 2008, respectively, and the fair value of the stock options that vested was $3.3 million, $4.5  million and $4.8 million, respectively.  Information regarding the 2,192,267 options outstanding at March 31, 2010 can be grouped into three  general exercise-price ranges as follows: Exercise Price Range  At March 31, 2010  $25.84 - $33.83  $35.29 - $45.75  $55.76 - $65.69 Options outstanding  751,225  713,466  727,576  Weighted average exercise price  $31.96  $43.61  $56.64  Weighted average remaining contractual life  7.1 years  6.8 years  7.0 years  Options exercisable  403,593  250,161  624,771  Weighted average exercise price of options exercisable  $30.35  $39.64  $56.52  Weighted average remaining contractual life of exercisable shares  5.5 years  2.6 years  6.8 years  The aggregate intrinsic value of the options outstanding at March 31, 2010 was $14.1 million. The  aggregate intrinsic value of options exercisable at March 31, 2010 was $8.7 million.  At March 31, 2010, 2009, and 2008, the number of options exercisable under the stock option plans was  1,278,525, 1,095,581 and 1,036,261, respectively; and the weighted average exercise price of those options  was $44.96, $44.98 and $41.44, respectively.  The compensation expense related to stock-options was $3.6 million, $3.1 million and $4.7 million during  fiscal 2010, 2009 and 2008, respectively, in accordance with ASC 718, which had the effect of reducing  basic and diluted earnings per share by $0.05, $0.05 and $0.07, respectively. No stock-option compensation costs were capitalized as part of the cost of an asset during fiscal 2010, 2009 and 2008. As of March 31, 2010, total unrecognized stock-option compensation costs amounted to $12.0 million or  $8.6 million net of tax. Compensation costs for stock options that have not yet vested will be recognized as  the underlying stock options vest over the appropriate future period. The level of unrecognized stock-option  compensation will be affected by any future stock option grants and by the termination of any employee who  has received stock options that are unvested as of their termination date. Restricted Stock The company has granted restricted shares to key employees, including officers, under several different  employee stock plans. These plans provide for the granting of restricted stock and/or performance awards  to officers and key employees. The company awards both time-based shares and performance-based  shares of restricted stock. The restrictions on the time-based restricted stock lapse generally over a four  year period and require no goals to be achieved other than the passage of time and continued employment.  The restrictions on the performance-based restricted stock lapse if the company meets specific targets.  During the restricted period, the restricted shares may not be transferred or encumbered, but the recipient  has the right to vote and receive dividends on the restricted shares. All of the restricted shares are classified  as equity awards in stockholders’ equity as deferred compensation – restricted stock. The deferred amount  is generally amortized by equal monthly charges to earnings over the respective four-year vesting periods. F-28