MOVADO GROUP INC — Director's Dealing 2008

Apr 3, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2008-03-31

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-03-31	Phantom Stock Unit	$0	A	224.97	Acquired		Common Stock (224.97)	Direct

Footnotes

F1: Phantom stock units acquired under issuer's Deferred Compensation Plan for $19.49 per share. Distributable in equal annual
installments for 10 years following date of reporting person's termination of employment with issuer.