MOVADO GROUP INC — Director's Dealing 2005

Jan 6, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2005-01-04

Reporting Person: KARPOVICH EUGENE (Senior V.P. - CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-04	Common Stock	M	5220	$7.19	Acquired	18790	Direct
2005-01-04	Common Stock	F	3233	$18.47	Disposed	15557	Direct
2005-01-04	Common Stock	M	1000	$9.73	Acquired	16557	Direct
2005-01-04	Common Stock	F	706	$18.47	Disposed	15851	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-04	Employee Stock Option	$7.19	M	5220	Disposed	2011-03-16	Common Stock (5220)	Direct
2005-01-04	Employee Stock Option	$18.47	A	3233	Acquired	2011-03-16	Common Stock (3233)	Direct
2005-01-04	Employee Stock Option	$9.73	M	1000	Disposed	2012-03-11	Common Stock (1000)	Direct
2005-01-04	Employee Stock Option	$18.47	A	706	Acquired	2012-03-11	Common Stock (706)	Direct

Footnotes

F1: Share amounts have been adjusted to reflect a stock dividend of one share of common stock for each issued share of common stock that was paid on 06/25/2004.