Form 4: Movado Group Inc. Executive Reports Stock Transaction

Mitchell Cole Sussis, Senior VP and General Counsel of Movado Group Inc., reports a transaction involving common stock to cover tax obligations.

Summary

• On March 29, 2024, Mitchell Cole Sussis, Senior VP and General Counsel of Movado Group Inc., reported a transaction.
• The transaction involved the withholding of 1,457 shares of common stock at a price of $27.93 to satisfy tax withholding obligations upon the vesting of stock awards previously granted on March 29, 2021.
• Following the transaction, Sussis directly owns 16,400 shares of Movado Group Inc. common stock.
• Additionally, Sussis acquired 43.38 phantom stock units under the issuer's Deferred Compensation Plan on March 31, 2024.
• These phantom stock units are economically equivalent to shares of Movado Group, Inc. common stock and are distributable in equal annual installments over 10 years following termination of employment.
• Following the phantom stock unit acquisition, Sussis directly owns 1,098.64 derivative securities.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. It reports routine stock transactions related to executive compensation.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, or creditors as it relates to executive compensation and tax obligations.

Key Dates