MOVADO GROUP INC — Director's Dealing 2007

Jan 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2006-12-29

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-29	Phantom Stock Unit	$0.00	A	157.46	Acquired		Common Stock (157.46)	Direct

Footnotes

F1: Phantom stock units acquired under issuer's Deferred Compensation Plan for $29.00 per share. Distributable in equal annual
installments for 10 years following date of reporting person's termination of employment with issuer.