MOVADO GROUP INC — Director's Dealing 2006

Jun 3, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2006-05-31

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-05-31	Employee Stock Option	$18.41	A	50000	Acquired	2016-05-31	Common Stock (50000)	Direct

Footnotes

F1: The option vests in three equal annual installments beginning on May 31, 2007.