MOVADO GROUP INC — Director's Dealing 2006

Jul 5, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2006-06-30

Reporting Person: PHALEN MIRIAM GRINBERG (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-06-30	Phantom Stock Unit	$0.00	A	39.07	Acquired		Common Stock (39.07)	Indirect

Footnotes

F1: Phantom stock units acquired under issuer's Deferred Compensation Plan for $22.95 per share. Distributable in equal annual
installments for 10 years following date of termination of employment of reporting person's spouse's with issuer.