[Form 4] MOVADO GROUP INC Insider Trading Activity

Rhea-AI Filing Summary

Michelle Kennedy, Senior Vice President, Human Resources at Movado Group, Inc. (MOV), reported acquiring 67.42 phantom stock units on 09/30/2025. Each phantom stock unit is stated to be the economic equivalent of one share of Movado common stock. The units were awarded under the issuer's Deferred Compensation Plan and are distributable in equal annual installments for 10 years following the reporting person's termination of employment. After the reported transaction the filing shows 502.79 shares/units beneficially owned by the reporting person. The Form 4 was signed on 10/02/2025 by an attorney-in-fact.

Positive

• 67.42 phantom stock units acquired under the issuer's Deferred Compensation Plan on 09/30/2025
• Phantom units are explicitly stated as the economic equivalent of one share of Movado common stock
• Payouts are structured in equal annual installments for 10 years following termination, providing long-term alignment

Negative

• None.

Insights

Corporate Governance Expert

Insider award reflects compensation/retention mechanics under deferred plan.

The Form 4 shows 67.42 phantom stock units granted to Michelle Kennedy on 09/30/2025, recorded as economically equivalent to common stock. This is an internal compensation event disclosed under Section 16 reporting rules and does not indicate open-market trading.

The units are payable under the company's Deferred Compensation Plan in equal annual installments for 10 years after termination, which is a typical retention and long-term alignment feature and creates a multi-year payout schedule explicitly stated in the filing.

Compensation Analyst

Grant size and payout schedule are explicitly disclosed; financial impact not quantified.

The filing specifies an acquisition of 67.42 phantom stock units and that each unit equals one share economically, but it does not disclose dollar value or vesting beyond the post-termination installment schedule. The report also shows 502.79 units/shares beneficially owned following the transaction.

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^*

Kennedy Michelle

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Human Resources

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		67.42		(2)	(2)	Common Stock	67.42	$0	502.79	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 Michelle Kennedy (MOV) acquire on 09/30/2025?

She acquired 67.42 phantom stock units under Movado's Deferred Compensation Plan, each economically equivalent to one share of common stock.

How will the phantom stock units be paid out?

The units are distributable in equal annual installments for 10 years following the reporting person's termination of employment, per the filing.

How many shares/units does Michelle Kennedy beneficially own after the transaction?

The Form 4 reports 502.79 shares/units beneficially owned following the reported transaction.

Does the Form 4 show a cash price paid for the units?

The filing shows a price of $0 for the reported phantom stock units, consistent with awards under a deferred compensation plan.

When was the Form 4 signed and filed?

The Form 4 was signed by an attorney-in-fact on 10/02/2025 and reports a transaction date of 09/30/2025.