MOVADO GROUP INC — Director's Dealing 2006

Oct 3, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2006-09-29

Reporting Person: PHALEN MIRIAM GRINBERG (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-09-29	Phantom Stock Unit	$0.00	A	32.10	Acquired		Common Stock (32.10)	Indirect

Footnotes

F1: Phantom stock units acquired under the issuer's Deferred Compensation Plan for $25.42/share. Distributable in equal
installments for 10 years following date of termination of employent of reporting persn's spouse's with issuer.