MOVADO GROUP INC — Director's Dealing 2005

Jan 4, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2004-12-31

Reporting Person: GRINBERG GEDALIO (Director, Chairman, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-31	Phantom Stock Unit	$0	A	187.67	Acquired		Common Stock (187.67)	Direct

Footnotes

F1: Phantom stock units acquired under issuer's Deferred Compensation Plan for $18.65 per
share. Distributable in equal annual installments for 10 years following date of reporting
person's termination of employment with issuer.