UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities and Exchange Act of 1934
(Amendment No. 7)*
Movado Group, Inc.
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
624580 10 6
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(CUSIP Number)
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP No. 624580 10 6 13G Page 2 of 8 Pages
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1 Name of Reporting Person Gedalio Grinberg
S.S. or I.R.S. Identifica-
tion No. of Above Person
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2 Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [ ]
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3 S.E.C. Use Only
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4 Citizenship or Place of Organization United States
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Number of Shares (5) Sole Voting Power 594,397
Beneficially (6) Shared Voting Power 1,506,114
Owned by Each (7) Sole Dispositive Power 594,397
Reporting Person (8) Shared Dispositive Power 1,506,114
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,100,511
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares [X]
188,500 shares held by Gedalio Grinberg's wife as to which shares he
disclaims beneficial ownership
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11. Percent of Class Represented by Amount in Row 9 18.2%
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12. Type of Reporting Person IN
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Page 2 of 8 Pages
CUSIP No. 624580 10 6 13G Page 3 of 8 Pages
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1 Name of Reporting Person Efraim Grinberg
S.S. or I.R.S. Identifica-
tion No. of Above Person
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2 Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [ ]
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3 S.E.C. Use Only
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4 Citizenship or Place of Organization United States
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Number of Shares (5) Sole Voting Power 623,680
Beneficially (6) Shared Voting Power 485,598
Owned by Each (7) Sole Dispositive Power 623,680
Reporting Person (8) Shared Dispositive Power 485,598
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,109,278
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares [_]
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11. Percent of Class Represented by Amount in Row 9 10.5%
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12. Type of Reporting Person IN
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Page 3 of 8 Pages
ITEM 1
(a) Name of Issuer
Movado Group, Inc.
(b) Address of Issuer's Principal Executive Offices
125 Chubb Avenue
Lyndhurst, New Jersey 07071
ITEM 2
(a) Name of Persons Filing
Gedalio Grinberg
Efraim Grinberg
(b) Address of Principal Business Office or, if none, residence
125 Chubb Avenue
Lyndhurst, New Jersey 07071
(c) Citizenship
United States Citizens
(d) Title of Class of Securities
Common Stock, $.01 par value
(e) CUSIP Number
624580 10 6
ITEM 3 If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or
(c), check whether the person filing is a:
This statement is not filed pursuant to Rules 13d-1(b) or 13d-2(b)
Page 4 of 8 Pages
ITEM 4 Ownership
(a) Amount Beneficially Owned:
Gedalio Grinberg: 2,100,511 shares
Efraim Grinberg: 1,109,278 shares
(b) Percent of Class:
Gedalio Grinberg: 18.2%
Efraim Grinberg: 10.5%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
Gedalio Grinberg: 594,397
Efraim Grinberg: 623,680
(ii) Shared power to vote or to direct the vote:
Gedalio Grinberg: 1,506,114
Efraim Grinberg: 485,598
(iii) Sole power to dispose or to direct the disposition of:
Gedalio Grinberg: 594,397
Efraim Grinberg: 623,680
(iv) Shared power to dispose or to direct the disposition of:
Gedalio Grinberg: 1,506,114
Efraim Grinberg: 485,598
(1) Mr. G. Grinberg beneficially owns 2,100,511 shares of which 5,625
are shares of Common Stock, par value $.01 per share ("Movado
Common Stock") owned by Mr. G. Grinberg individually and 47,101
are shares of Movado Common Stock held under Movado Group, Inc.'s
("Movado") 401(k) Plan, the trustees for which are Mr. G.
Grinberg and Mr. E. Grinberg, both of whom have shared investment
and voting power as to such shares; and 7,029 are shares of
Movado Common Stock held under Movado's Stock Bonus Plan, for
which Mr. G. Grinberg and Mr. E. Grinberg are co-trustees with
Mr. Howard Regenbogen and Ms. Vivian K. D'Elia, and as to which
shares they have shared investment and voting power. The balance
of Mr. G. Grinberg's shares are shares of Class A Common Stock,
par value $.01 per share ("Movado Class A Common Stock"),
convertible on a one-for-one basis into shares of Movado
Page 5 of 8 Pages
Common Stock. Included in the total number of shares of Class A
Common Stock are 25,000 owned by The Grinberg Family Foundation,
a not-for- profit corporation of which Mr. G. Grinberg, his wife
and Mr. Leonard L. Silverstein are the directors and as to which
shares these three individuals have shared investment and voting
power. Also included are 1,426,984 shares of Movado Class A
Common Stock owned by Grinberg Partners L.P. of which Grinberg
Group Partners is the general partner. Mr. G. Grinberg, being the
managing partner of Grinberg Group Partners, has shared power to
direct the voting and disposition of the shares owned by Grinberg
Partners L.P. Mr. G. Grinberg disclaims beneficial ownership as
to the shares owned by The Grinberg Family Foundation, the shares
held under Movado's Stock Bonus Plan and as to the shares held
under Movado's 401(k) Plan, except to the extent of his pecuniary
interest therein.
(2) Mr. E. Grinberg beneficially owns 1,109,278 shares of which 1,875
are shares of Movado Common Stock, 220,000 are shares of Movado
Common Stock which Mr. E. Grinberg has the right to acquire by
the exercise of options under the issuer's Stock Incentive Plan;
47,101 are shares of Movado Common Stock held under Movado's
401(k) Plan, the trustees for which are Mr. G. Grinberg and Mr.
E. Grinberg, both of whom have shared investment and voting power
as to such shares; and 7,029 are shares of Movado Common Stock
held under Movado's Stock Bonus Plan, for which Mr. G. Grinberg
and Mr. E. Grinberg are co-trustees with Mr. Howard Regenbogen
and Ms. Vivian K. D'Elia, and as to which shares they have shared
investment and voting power. The balance of Mr. E. Grinberg's
shares are shares of Movado Class A Common Stock, convertible on
a one-for-one basis into shares of Movado Common Stock. Included
in Mr. E. Grinberg's total number of shares of Movado Class A
Common Stock are: an aggregate of 281,653 shares held by several
trusts for the benefit of Mr. E. Grinberg's siblings and himself,
of which trusts Mr. E. Grinberg is sole trustee. As sole trustee,
Mr. E. Grinberg has sole investment and voting power with respect
to the shares held by such trusts. In addition, the amount of
shares reported for Mr. E. Grinberg includes an aggregate of
431,468 shares of Movado Class A Common Stock held by several
trusts for the benefit of Mr. E. Grinberg's siblings and himself,
of which trusts Mr. E. Grinberg is co-trustee with Mr. Leonard L.
Silverstein. As co-trustee, Mr. E. Grinberg has shared investment
and voting power with Mr. Leonard L. Silverstein with respect to
the shares held by such trusts. Mr. E. Grinberg disclaims
beneficial ownership as to the 477,107 shares held by the trusts
for the benefit of his siblings of which he is trustee or
co-trustee and of the shares held under Movado's Stock Bonus Plan
and as to the 47,101 shares held under Movado's 401(k) Plan
except to the extent of his pecuniary interest therein.
Page 6 of 8 Pages
ITEM 5 Ownership of Five Percent or Less of a Class
Not applicable.
ITEM 6 Ownership of More than Five Percent on Behalf of Another Person
See Item 4.
ITEM 7 Identification and Classification of the Subsidiary which Acquired the
Security Being Reported on by the Parent Holding Company
Not applicable.
ITEM 8 Identification and Classification of Members of the Group
Not applicable.
ITEM 9 Notice of Dissolution of Group
Not applicable.
ITEM 10 Certification
Not applicable.
Page 7 of 8 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 14, 2000
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Date
/s/ Gedalio Grinberg
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Gedalio Grinberg
/s/ Efraim Grinberg
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Efraim Grinberg
Page 8 of 8 Pages