MOVADO GROUP INC — Director's Dealing 2005

Jan 5, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2005-01-03

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-03	Common Stock	M	40000	$7.19	Acquired	226323	Direct
2005-01-03	Common Stock	F	23557	$18.47	Disposed	202766	Direct
2005-01-03	Common Stock	M	40000	$8.63	Acquired	242766	Direct
2005-01-03	Common Stock	F	25393	$18.47	Disposed	217373	Direct
2005-01-03	Common Stock	M	40000	$10.06	Acquired	257373	Direct
2005-01-03	Common Stock	F	27516	$18.47	Disposed	229857	Direct
2005-01-03	Common Stock	M	40000	$10.78	Acquired	269857	Direct
2005-01-03	Common Stock	F	28585	$18.47	Disposed	241272	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-03	Employee Stock Option	$7.19	M	40000	Disposed	2011-03-16	Common Stock (40000)	Direct
2005-01-03	Employee Stock Option	$18.47	A	23557	Acquired	2011-03-16	Common Stock (23557)	Direct
2005-01-03	Employee Stock Option	$8.63	M	40000	Disposed	2011-03-16	Common Stock (40000)	Direct
2005-01-03	Employee Stock Option	$18.47	A	25393	Acquired	2011-03-16	Common Stock (25393)	Direct
2005-01-03	Employee Stock Option	$10.06	M	40000	Disposed	2011-03-16	Common Stock (40000)	Direct
2005-01-03	Employee Stock Option	$18.47	A	27516	Acquired	2011-03-16	Common Stock (27516)	Direct
2005-01-03	Employee Stock Option	$10.78	M	40000	Disposed	2011-03-16	Common Stock (40000)	Direct
2005-01-03	Employee Stock Option	$18.47	A	28585	Acquired	2011-03-16	Common Stock (28585)	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.