TIDEWATER AUCTIONS, LLC

a market value of the underlying stock on the grant date of $ 12.72 per share. Both options had terms of ten years vesting in equal amount over three years. All stock options were fully vested and exercised in the first quarter of 2024 and none remained outstanding or exercisable as of December 31, 2025 . 103 Table of Contents ( 10 ) STOCKHOLDERS’ EQUITY Common Stock The number of shares of authorized and issued common stock and preferred stock are as follows: December 31, December 31, 2025 2024 Common stock shares authorized 125,000,000 125,000,000 Common stock par value $ 0.001 $ 0.001 Common stock shares issued 49,566,334 51,461,472 Preferred stock shares authorized 3,000,000 3,000,000 Preferred stock par value No par No par Preferred stock shares issued — — Common Stock Repurchases On

ber 31, 2023 Number of vessel dispositions by segment: Americas 1 1 1 Asia Pacific 1 — 1 Middle East — — 1 Europe/Mediterranean — 1 — West Africa 10 4 12 Total 12 6 15 General and Administrative Expenses Consolidated general and administrative expenses and the related percentage of each component to total revenues are as follows: (In Thousands) Year Ended Year Ended Year Ended December 31, 2025 December 31, 2024 December 31, 2023 Personnel $ 75,995 5 % $ 67,156 5 % $ 50,343 5 % Office and property 19,126 1 % 17,480 1 % 20,998 2 % Professional services 24,188 2 % 19,264 1 % 16,498 2 % Transaction or restructuring charges (A) 8,345 1 % 716 0 % 1,090 0 % Other 6,877 1 % 6,201 1 % 6,354 1 % $ 134,531 10 % $ 110,817 8 % $ 95,283 10 % General and administrative expenses for all segments and corp