MOV insider Efraim Grinberg gains 369 deferred phantom stock units

Rhea-AI Filing Summary

Movado Group insider Efraim Grinberg, who serves as Chairman and CEO and is a 10% owner, acquired 369 phantom stock units on 09/30/2025. Each phantom unit is the economic equivalent of one share of Movado Group, Inc. common stock and carries no purchase price ($0). The units are payable under the issuer's Deferred Compensation Plan and will be distributable in equal annual installments for 10 years following the reporting person's termination of employment. After this transaction, the report shows 38,535.15 shares beneficially owned (direct).

Positive

• Acquisition of 369 phantom units increases insider economic stake without cash outlay
• Deferred distribution over 10 years aligns insider incentives with long-term company performance

Negative

• Units carry no immediate cash value and are payable only after termination, delaying realized benefit
• Phantom units are not current tradable shares, so they do not increase voting stock or liquidity

Insights

Corporate Insider Transactions Analyst

TL;DR: Insider acquired 369 phantom units, adding economic exposure without cash outlay.

The filing records an acquisition of 369 phantom stock units on 09/30/2025 with an indicated price of $0, meaning no cash purchase was made. The units are defined as the economic equivalent of common shares, preserving upside exposure to Movado Group, Inc. equity without immediate share issuance.

The units are subject to the issuer's Deferred Compensation Plan and are distributable in equal annual installments for 10 years after termination, which delays cash or share settlement and creates a long-term compensation stake tied to future employment status.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

GRINBERG EFRAIM

(Last) (First) (Middle)

C/O MOVADO GROUP, INC.,

650 FROM ROAD, SUITE 375

(Street)

PARAMUS NJ 07652

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MOVADO GROUP INC [ MOV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman - CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Unit	(1)	09/30/2025		A		369		(2)	(2)	Common Stock	369	$0	38,535.15	D

Explanation of Responses:

1. Each share of phantom stock is the economic equivalent of one share of Movado Group, Inc. common stock.

2. Phantom stock units acquired under issuer's Deferred Compensation Plan distributable in equal annual installments for 10 years following date of reporting person's termination of employment with issuer.

	/s/ Mitchell C. Sussis, attorney-in-fact	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Movado insider Efraim Grinberg acquire on 09/30/2025?

He acquired 369 phantom stock units, each the economic equivalent of one share of Movado common stock.

Were any cash payments made for the phantom stock units (MOV)?

No. The form reports a price of $0 for the acquired phantom stock units.

How and when will the phantom units be paid out?

Phantom units are payable under the issuer's Deferred Compensation Plan and are distributable in equal annual installments for 10 years following termination of employment.

How many shares does the filing show the reporting person beneficially owns after the transaction?

The filing shows 38,535.15 shares beneficially owned following the reported transaction.

What roles does the reporting person hold at Movado Group (MOV)?

The reporting person, Efraim Grinberg, is listed as Chairman, CEO, a Director, and a 10% owner.