UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities and Exchange Act of 1934
(Amendment No. 6)*
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).
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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 493,877
Beneficially (6) Shared Voting Power 1,606,030
Owned by Each (7) Sole Dispositive Power 493,877
Reporting Person (8) Shared Dispositive Power 1,606,030
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,099,907
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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 18.4%
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12. Type of Reporting Person IN
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Page 2 of 8 Pages
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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 582,901
Beneficially (6) Shared Voting Power 487,220
Owned by Each (7) Sole Dispositive Power 582,901
Reporting Person (8) Shared Dispositive Power 487,220
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,070,121
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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 10.3%
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12. Type of Reporting Person IN
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Page 3 of 8 Pages
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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)
ITEM 4 OWNERSHIP
(a) Amount Beneficially Owned:
Gedalio Grinberg: 2,099,907 shares
Efraim Grinberg: 1,070,121 shares
(b) Percent of Class:
Gedalio Grinberg: 18.4%
Efraim Grinberg: 10.3%
Page 4 of 8 Pages
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(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
Gedalio Grinberg: 493,877
Efraim Grinberg: 582,901
(ii) Shared power to vote or to direct the vote:
Gedalio Grinberg: 1,606,030
Efraim Grinberg: 487,220
(iii) Sole power to dispose or to direct the
disposition of:
Gedalio Grinberg: 493,877
Efraim Grinberg: 582,901
(iv) Shared power to dispose or to direct the
disposition of:
Gedalio Grinberg: 1,606,030
Efraim Grinberg: 487,220
(1) Mr. G. Grinberg beneficially owns 2,099,907 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 55,752 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. 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 Common
Stock. Included in total number of shares of Class A
Common Stock are 4,778 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 1,545,500 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 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 1,070,121 shares of
which 1,875 are shares of Movado Common Stock,
180,000 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,
and 55,752 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. 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
Page 5 of 8 Pages
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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 55,752 shares held
under Movado's 401(k) Plan except to the extent of
his pecuniary interest therein.
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 6 of 8 Pages
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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 12, 1999
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Date
/s/ Gedalio Grinberg
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Gedalio Grinberg
/s/ Efraim Grinberg
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Efraim Grinberg
Exhibits
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Exhibit 1 Joint Filing Agreement
Page 7 of 8 Pages
EXHIBIT 1
JOINT FILING AGREEMENT
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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 12, 1999
/s/ Gedalio Grinberg
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Gedalio Grinberg
/s/ Efraim Grinberg
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Efraim Grinberg
Page 8 of 8 Pages
