MOVADO GROUP INC — Director's Dealing 2006

Jun 7, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2006-06-05

Reporting Person: GRINBERG EFRAIM (Director, President -- CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-06-05	Common Stock	M	75000	$6.53	Acquired	329578	Direct
2006-06-05	Common Stock	F	48512	$23.15	Disposed	281066	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-06-05	Employee Stock Option	$6.53	M	75000	Disposed	2007-03-25	Common Stock (75000)	Direct