UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4 )*
Movado Group, Inc.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
624580 10 6
(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).
<PAGE>
CUSIP No. 624580 10 6 13G Page 2 of 9 Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gedalio Grinberg
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
5 SOLE VOTING POWER
NUMBER OF 1,701,235
SHARES
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 69,514
REPORTING
PERSON 7 SOLE DISPOSITIVE POWER
WITH
1,701,235
8 SHARED DISPOSITIVE POWER
69,514
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,770,749
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
103,040 shares held by Mr. Gedalio Grinberg's wife as to which
shares Mr. Gedalio Grinberg disclaims beneficial ownership
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
34.22%
12 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 624580 10 6 13G Page 3 of 9 Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Efraim Grinberg
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
5 SOLE VOTING POWER
NUMBER OF
SHARES 269,069
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 259,854
PERSON
WITH 7 SOLE DISPOSITIVE POWER
269,069
8 SHARED DISPOSITIVE POWER
259,854
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
528,923
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.58%
12 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Item 1(a) Name of Issuer:
Movado Group, Inc.
Item 1(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
Item 2(b) Address of Principal Business Office or, if none, Residence:
125 Chubb Avenue
Lyndhurst, New Jersey 07071
Item 2(c) Citizenship:
United States citizens.
Item 2(d) Title of Class of Securities:
Common Stock, par value $.01 per share
Item 2(e) CUSIP No.:
624580 10 6
Item 3 If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
Not applicable.
<PAGE>
Item 4 Ownership:
(a) Amount Beneficially Owned:
Gedalio Grinberg: 1,770,749<F1> shares
Efraim Grinberg: 528,923<F2> shares
(b) Percent of Class:
Gedalio Grinberg: 34.22%
Efraim Grinberg: 13.58%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
Gedalio Grinberg: 1,701,235 shares
Efraim Grinberg: 269,069 shares
(ii) Shared power to vote or to direct the vote:
Gedalio Grinberg: 69,514
Efraim Grinberg: 259,854
(iii) Sole power to dispose or to direct the disposition of:
Gedalio Grinberg: 1,701,235 shares
Efraim Grinberg: 269,069 shares
(iv) Shared power to dispose or to direct the disposition of:
Gedalio Grinberg: 69,514
Efraim Grinberg: 259,854
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
<PAGE>
Item 9 Notice of Dissolution of Group:
Not applicable
Item 10 Certification:
Not applicable
________________________________
[FN]
<F1> Of the 1,770,749 shares reported as beneficially owned by Mr. G.
Grinberg, 2,000 shares are shares of Common Stock, par value $.01 per
share ("Common Stock") owned by the Mr. G. Grinberg individually and
29,735 shares are shares of Common Stock held under the Company'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.
The balance of Mr. G. Grinberg's shares are shares of Class A Common
Stock, convertible on a one-for-one basis into shares of Common Stock.
Included in the total number of shares of Class A Common Stock are
39,779 shares owned by the Grinberg Foundation, a non-profit corporation
of which Mr. G. Grinberg, his wife and Mr. Leonard Silverstein are the
directors and officers and as to which shares these three individuals
have shared investment and voting power. Mr. G. Grinberg disclaims
beneficial ownership as to the shares owned by the Grinberg Foundation
and as to the shares owned by the Company's 401(k) Plan except to the
extent of his pecuniary interest therein.
<F2> Of the 528,923 shares reported as beneficially owned by Mr. E. Grinberg,
1,000 shares are shares of Common Stock, par value $ .01 per share
("Common Stock"), 40,000 are shares of Common Stock which he has the
right to acquire by the exercise of options under the Issuer's Stock
Incentive Plan, and 29,735 shares are shares of Common Stock, held
under the Company'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. The balance of Mr. E. Grinberg's shares
are shares of Class A Common Stock, convertible on a one-for-one basis
into shares of Common Stock. Included in the total number of shares of
Class A Common Stock are: an aggregate of 150,216 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 230,119 shares of 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. Silverstein. As co-trustee, Mr. E. Grinberg has shared investment
and voting power with Mr. Silverstein with respect to the shares held by
such trusts. Mr. E. Grinberg disclaims beneficial ownership as to the
254,460 shares held by the trusts for the benefit of his siblings of
which he is trustee or co-trustee and of the shares owned by the
Company's 401(k) Plan except to the extent of his pecuniary interest
therein.
<PAGE>
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.
Date: February 6, 1997
/s/ Gedalio Grinberg
/s/ Efraim Grinberg
<PAGE>
EXHIBITS
Exhibit 1 Joint Filing Agreement
<PAGE>
Exhibit 1
JOINT FILING AGREEMENT
We, the signatories of the statement on Schedule 13G to which this
Agreement is attached, do hereby agree that such statement is, and any
amendments thereto filed by any of us will be, filed on behalf of each of us.
Dated: February 6, 1997
/s/ Gedalio Grinberg
/s/ Efraim Grinberg
