X0202 5 2006-12-31 0 0 0 0001178409 TIDELANDS BANCSHARES INC TDBK 0001278636 MATHEWES ROBERT H JR 1407 WAYWARD COURT MOUNT PLEASANT SC 29466 0 1 0 0 EVP/Sr. Commercial Lender Common Stock Option 14.92 2006-12-20 2006-12-20 5 A 0 L 20600 14.92 A 2007-12-20 2016-12-20 Common Stock Option 20600 54411 D On December 20, 2006, the Compensation Committee of the Company granted Mr. Mathewes 20,600 stock options at an exercise price of $14.92 per share. The options vest at 20% per year for 5 years with the first set of options vesting on December 20, 2007. At the end of the fiscal year (12/31/2006), Mr. Mathewes had 32,311 stock options granted 7/12/04, 1,500 stock options granted 12/19/05, and 20,600 stock options granted 12/20/06, for a total of 54,411 unexercised stock options. /s/Robert H. Mathewes, Jr. by Robert E. Coffee, Jr. as POA 2007-02-02