MOVADO GROUP INC — Director's Dealing 2004

Apr 2, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2004-03-31

Reporting Person: PHALEN MIRIAM GRINBERG (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-31	Phantom Stock Unit	$0	A	23.89	Acquired	1988-08-08	Common Stock (23.89)	Indirect

Footnotes

F1: Phantom stock units acquired under issuer's Deferred Compensation Plan for $29.94 per share. Distributable in equal annual installments for 10 years following date of termination of employment of reporting person's spouse's with issuer.