MOVADO GROUP INC — Director's Dealing 2004

Jan 16, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2004-01-14

Reporting Person: COTE RICHARD (Director, Executive V.P. - COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-14	Common Stock	M	40000	$20.13	Acquired	188285	Direct
2004-01-14	Common Stock	F	30398	$31.15	Disposed	157887	Direct
2004-01-14	Common Stock	M	40000	$21.57	Acquired	197887	Direct
2004-01-14	Common Stock	F	31568	$31.15	Disposed	166319	Direct
2004-01-14	Common Stock	M	29730	$23.88	Acquired	196049	Direct
2004-01-14	Common Stock	F	24975	$31.15	Disposed	171074	Direct
2004-01-14	Common Stock	M	32843	$23.88	Acquired	204917	Direct
2004-01-14	Common Stock	F	27589	$31.15	Disposed	176328	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-14	Employee Stock Option	$20.13	M	40000	Disposed	2011-03-16	Common Stock (40000)	Direct
2004-01-14	Employee Stock Option	$31.15	A	30398	Acquired	2011-03-16	Common Stock (30398)	Direct
2004-01-14	Employee Stock Option	$21.57	M	40000	Disposed	2011-03-16	Common Stock (40000)	Direct
2004-01-14	Employee Stock Option	$31.15	A	31568	Acquired	2011-03-16	Common Stock (31568)	Direct
2004-01-14	Employee Stock Option	$23.88	M	29730	Disposed	2011-03-16	Common Stock (29730)	Direct
2004-01-14	Employee Stock Option	$31.15	A	24975	Acquired	2011-03-16	Common Stock (24975)	Direct
2004-01-14	Employee Stock Option	$23.88	M	32843	Disposed	2011-03-16	Common Stock (32843)	Direct
2004-01-14	Employee Stock Option	$31.15	A	27589	Acquired	2011-03-16	Common Stock (27589)	Direct

Footnotes

F1: The reporting person also has an indirect pecuniary interest in an additional 1,100 shares of common stock which are owned by a trust for the benefit of his children.