MOVADO GROUP INC — Director's Dealing 2007

Oct 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2007-09-28

Reporting Person: PHALEN MIRIAM GRINBERG (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-09-28	Phantom Stock Unit	$0.00	M	31.48	Disposed		Common Stock (31.48)	Indirect

Footnotes

F1: Phantom stock units acquired under issuer's Deferred Compensation Plan for $31.92 per share. Distributable in equal annual
installments for 10 years following date of termination of employment of reporting person's spouse's with issuer.