Movado Group Inc. Announces 2024 Annual Meeting of Shareholders

TL;DR

<b>Movado Group, Inc. will hold its 2024 Annual Meeting of Shareholders entirely online on June 20, 2024, urging shareholders to vote in advance.</b>

AI Summary

MOVADO GROUP INC (MOVAA) filed a Proxy Statement (DEF 14A) with the SEC on May 9, 2024. Movado Group, Inc. will hold its 2024 Annual Meeting of Shareholders on June 20, 2024, at 10:00 a.m. Eastern time. The meeting will be conducted entirely online, accessible via www.virtualshareholdermeeting.com/MOV2024. Shareholders can participate by listening live, submitting questions, and voting. Admission requires a 16-digit control number found on the proxy card, voting instruction form, or notice of internet availability. Shareholders are urged to vote and submit proxies in advance of the meeting.

Why It Matters

For investors and stakeholders tracking MOVADO GROUP INC, this filing contains several important signals. The shift to a virtual-only meeting aims to increase shareholder accessibility and participation regardless of physical location. Encouraging advance voting helps ensure a smoother and more efficient meeting process, allowing management to gauge shareholder sentiment beforehand.

Risk Assessment

Risk Level: low — MOVADO GROUP INC shows low risk based on this filing. The filing is a routine DEF 14A proxy statement, indicating standard corporate governance procedures rather than significant financial or operational changes.

Analyst Insight

Shareholders should review the proxy materials carefully and vote their shares in advance of the June 20, 2024, virtual annual meeting.

Key Numbers

• 2024-06-20 — Annual Meeting Date (Date of the 2024 Annual Meeting of Shareholders)
• 10:00 a.m. ET — Annual Meeting Time (Time of the 2024 Annual Meeting of Shareholders)
• DEF 14A — Filing Type (Type of SEC filing)
• 20240509 — Filing Date (Date the filing was submitted to the SEC)

Key Players & Entities

• MOVADO GROUP INC (company) — Registrant name
• June 20, 2024 (date) — Date of Annual Meeting
• 10:00 a.m. Eastern time (time) — Time of Annual Meeting
• www.virtualshareholdermeeting.com/MOV2024 (url) — Link to virtual meeting
• 16-digit control number (other) — Required for meeting admission
• 0000072573 (other) — Central Index Key
• NY (location) — State of Incorporation
• 0131 (other) — Fiscal Year End

FAQ

Industry Context

Movado Group, Inc. operates in the watch and clock industry, a sector characterized by brand recognition, design, and distribution networks.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

What Investors Should Do

1. Review the proxy materials for details on proposals and voting procedures.
2. Obtain the 16-digit control number from proxy materials or broker for virtual meeting access.
3. Vote shares in advance of the June 20, 2024, annual meeting.

Key Dates

• 2024-06-20: Annual Meeting of Shareholders — Shareholders will attend and participate virtually, vote, and submit questions.
• 2024-05-09: Filing Date — The DEF 14A proxy statement was filed with the SEC.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard proxy statement for an upcoming annual meeting. Specific financial or operational updates from previous filings are not detailed here.

Key Financial Figures

• $10,000 — 's fee, which we expect to be less than $10,000. Movado Group, Inc.1 2024 Proxy State

Filing Documents

• ny20024229x1_def14a.htm (DEF 14A) — 1123KB
• logo_movado24.jpg (GRAPHIC) — 15KB
• ny20024229x1_piechart.jpg (GRAPHIC) — 81KB
• ny20024229x1_pvp1.jpg (GRAPHIC) — 151KB
• ny20024229x1_pc01.jpg (GRAPHIC) — 637KB
• ny20024229x1_pc02.jpg (GRAPHIC) — 605KB
• ny20024229x1_pvp2x1.jpg (GRAPHIC) — 210KB
• ny20024229x1_pvp3x1.jpg (GRAPHIC) — 247KB
• 0001140361-24-025184.txt (&nbsp;) — 7141KB
• mov-20240620.xsd (EX-101.SCH) — 6KB
• mov-20240620_def.xml (EX-101.DEF) — 6KB
• mov-20240620_lab.xml (EX-101.LAB) — 12KB
• mov-20240620_pre.xml (EX-101.PRE) — 5KB
• ny20024229x1_def14a_htm.xml (XML) — 319KB

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 5 Proposal 1 — Election of Directors 7 The Board of Directors and Corporate Governance 11 Executive Officers 16

Executive Compensation

Executive Compensation 16 A Letter from the Chair of the Compensation and Human Capital Committee 18 Compensation Discussion and Analysis 21 Fiscal 2024 Highlights 21 Role of the Compensation and Human Capital Committee 23 Compensation Objectives 23 Setting Executive Compensation 24 Fiscal 2024 Executive Compensation Components 24 Tax and Accounting Implications 27 Compensation and Human Capital Committee Report 28 Summary Compensation Table for Fiscal 2024 29 Grants of Plan-Based Awards in Fiscal 2024 30 Outstanding Equity Awards at Fiscal 2024 Year-End 31 Option Exercises and Stock Vested During Fiscal 2024 32 Nonqualified Deferred Compensation 33 Potential Payments on Termination or Change in Control 34 Pay Ratio Disclosure 36 Pay Versus Performance 37 Director Compensation 41 Certain Relationships and Related Transactions 42 Equity Compensation Plan Information 43 Report of the Audit Committee of the Board of Directors 44 Audit-Related Fees, Tax Fees and all Other Fees 45 Proposal 2 — Ratification of Appointment of Accountants 46 Proposal 3 — Advisory Approval of Executive Compensation 47 Delinquent Section 16(a) Reports 48 Other Matters 49 TABLE OF CONTENTS PROXY STATEMENT Annual Meeting of Shareholders of Movado Group, Inc. to be held on Thursday, June 20, 2024 Some Questions You May Have Regarding This Proxy Statement What is the purpose of these materials? The Board of Directors (the "Board of Directors") of Movado Group, Inc. (the "Company") is soliciting proxies for our 2024 Annual Meeting of Shareholders (the "Annual Meeting"). The Annual Meeting will be held on Thursday, June 22, 2024, at 10:00 a.m., Eastern time, in virtual format only at www.virtualshareholdermeeting.com/MOV2024. The information included in this proxy statement relates to the proposals to be voted on at the Annual Meeting, the voting process, the compensation of Directors and our most highly-paid ex

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management The following table shows the number of shares of the Company's Class A Common Stock and Common Stock beneficially owned as of April 25, 2024 (except as otherwise noted in footnotes 2, 3, 4 and 5) by (i) each shareholder known by the Company to beneficially own more than 5% of the outstanding shares of either the Class A Common Stock or the Common Stock, (ii) each current director, (iii) each executive officer named in the Summary Compensation Table, and (iv) all current executive officers and directors as a group. Name of Beneficial Owner Shares of Class A Common Stock Beneficially Owned (1) Shares of Common Stock Beneficially Owned (1) Percent of Outstanding Shares of Capital Stock Class A Common Stock (1) Common Stock (1) Percent of Total Voting Power (1) BlackRock Inc. (2) — 2,563,597 * 15.72% 3.16% Royce & Associates, LP (3) — 1,779,286 * 10.91% 2.19% Dimensional Fund Advisors LP (4) — 1,241,890 * 7.61% 1.53% The Vanguard Group, Inc. (5) — 1,138,788 * 6.98% 1.40% First Trust Advisors L.P. and The Charger Corporation (6) — 826,726 * 5.07% 1.02% Peter A. Bridgman — 43,233 * * * Sallie A. DeMarsilis (7) — 162,979 * * * Alexander Grinberg (8) 388,420 81,156 5.99% * 4.89% Efraim Grinberg (9) 5,353,718 475,891 82.58% 2.92% 66.57% Alan H. Howard — 56,225 * * * Richard Isserman — 15,461 * * * Michelle Kennedy _ 2,556 * * * Ann Kirschner — 13,266 * * * Maya Peterson — 7,655 * * * Stephen Sadove — 28,084 * * * Behzad Soltani (10) — 140,566 * * * Mitchell C. Sussis (11) — 36,556 * * * All executive officers, directors and director nominees as a group (12 persons) (12) 5,655,655 1,032,202 87.24% 6.33% 70.97% * Denotes less than one percent The address for Messrs. Bridgman, A. Grinberg, E. Grinberg, Howard, Isserman, Sadove, Soltani, and Sussis and for Mses. DeMarsilis,

View Full Filing

View this DEF 14A filing on SEC EDGAR