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MOVADO GROUP INC Director's Dealing 2005

Apr 1, 2005

32997_dirs_2005-03-31_bec60e7b-3e60-4d19-a090-ddfd4c1ed5f6.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2005-03-30

Reporting Person: PHALEN MIRIAM GRINBERG (10% Owner)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2005-03-30 Common Stock M 9376 $4.97 Acquired 25915 Indirect
2005-03-30 Common Stock S 9376 $18.75 Disposed 16539 Indirect
2005-03-30 Common Stock M 20000 $4.25 Acquired 36539 Indirect
2005-03-30 Common Stock S 20000 $18.75 Disposed 16539 Indirect
2005-03-30 Common Stock M 9376 $6.53 Acquired 25915 Indirect
2005-03-30 Common Stock S 9376 $18.75 Disposed 16539 Indirect

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2005-03-30 Class A Common Stock $ S 1121 Disposed Common Stock (1121) Direct
2005-03-30 Class A Common Stock $ S 200 Disposed Common Stock (200) Direct
2005-03-30 Class A Common Stock $ S 1000 Disposed Common Stock (1000) Indirect
2005-03-30 Class A Common Stock $ S 400 Disposed Common Stock (400) Indirect
2005-03-30 Class A Common Stock $ S 600 Disposed Common Stock (600) Indirect
2005-03-30 Class A Common Stock $ S 600 Disposed Common Stock (600) Indirect
2005-03-30 Class A Common Stock $ S 1700 Disposed Common Stock (1700) Indirect
2005-03-30 Class A Common Stock $ S 579 Disposed Common Stock (579) Indirect
2005-03-30 Employee Stock Option $4.97 M 9376 Disposed 2006-02-06 Common Stock (9376) Indirect
2005-03-30 Employee Stock Option $4.25 M 20000 Disposed 2010-05-17 Common Stock (20000) Indirect
2005-03-30 Employee Stock Option $6.53 M 9376 Disposed 2007-03-25 Common Stock (9376) Indirect

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Class A Common Stock $ Common Stock (37107) 37107 Indirect
Class A Common Stock $ Common Stock (37065) 37065 Indirect

Footnotes

F1: 1 for 1

F2: Immediately

F3: Not Applicable

F4: The reporting person also has an indirect pecuniary interest in an additional 509,990 shares of Class A Common Stock, of
which (i) 184,356 are owned by a trust and 287,634 are owned by another trust, for both of which trusts the reporting person
is the beneficiary and (ii) 38,000 are owned by CAP I Partners, L.P. in which the reporting person is a limited partner. The
reporting person disclaims beneficial ownership of the shares held by CAP I Partners, L.P., except to the extent of her
pecuniary interest therein.

F5: By Adrian Phalen Trust

F6: By Nathan Phalen Trust.