SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Morrell Stephen

(Last)

(First)

(Middle)

10001 WOODLOCH FOREST DRIVE

SUITE 610

(Street)

THE WOODLANDS

77380

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/02/2010

3. Issuer Name and Ticker or Trading Symbol
TRICO MARINE SERVICES INC [ TRMA ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice President, Finance

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	8,900	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option (right to buy)	⁽¹⁾	03/13/2016	Common Stock	5,729	$2.05	D
Stock Appreciation Rights	⁽²⁾	03/13/2016	Common Stock	5,729	$2.05	D
Stock Appreciation Rights	03/13/2012	03/13/2016	Common Stock	4,583	$2.05	D
Phantom Stock	⁽³⁾	04/28/2017	Common Stock	5,685	⁽⁴⁾	D
Stock Appreciation Rights	⁽⁵⁾	04/28/2017	Common Stock	11,463	$2.39	D

Explanation of Responses:

1. These options vest ratably over a three-year period from the grant date and are exercisable as follows: 33% on March 13, 2010, 33% on March 13, 2011 and 34% on March 13, 2012.

2. These SAR's vest ratably over a three-year period from the grant date and are exercisable as follows: 33% on March 13, 2010, 33% on March 13, 2011 and 34% on March 13, 2012.

3. The phantom shares vest ratably over a three-year period from the grant date and are exercisable as follows: 33% on April 28, 2011, 33% on April 28, 2012 and 34% on April 28, 2013. These phantom shares entitle the reporting person to receive a cash settlement unless, prior to a vesting date, the Compensation Committee of Trico Marine Services, Inc.'s Board of Directors elects to make the payment in the form of Trico Marine Services, Inc. common stock.

4. Each share of phantom stock represents the right to receive the fair market value of one share Trico Marine Services, Inc. common stock.

5. These SAR's vest ratably over a three-year period from the grant date and are exercisable as follows: 33% on April 28, 2011, 33% on April 28, 2012 and 34% on April 28, 2013. These SAR's entitle the reporting person to receive a cash settlement unless, prior to a vesting date, the Compensation Committee of Trico Marine Services, Inc.'s Board of Directors elects to make the payment in the form of Trico Marine Services, Inc. common stock.

	/s/ Suzanne B. Kean on behalf of Stephen Morrell	06/02/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.