MOVADO GROUP INC — Director's Dealing 2004

Jan 5, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2003-12-31

Reporting Person: MICHNO TIMOTHY F (Secretary)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-31	Phantom Stock Unit	$0	A	27.82	Acquired		Common Stock (27.82)	Direct

Footnotes

F1: Phantom stock units acquired under issuer's Deferred Compensation Plan for $28.23 per share. Distributable in equal annual installments for 10 years following date of reporting person's termination of employment with issuer.