Movado (MOV) SVP Michelle Kennedy Receives Phantom Stock Award

What Happened

• Michelle Kennedy, Senior Vice President of Human Resources at Movado Group, received an award of 40.01 phantom stock units on 2026-09-30. The units were reported at $0.00 per unit (no cash paid) and are recorded as a derivative award (transaction code A).

Key Details

• Transaction date: 2026-09-30; Form 4 filed: 2026-10-01 (timely filing).
• Amount: 40.01 phantom stock units; reported acquisition price: $0.00.
• Shares/units owned after transaction: Not specified in the provided filing excerpt.
• Footnotes of note:
  • F1: Each phantom stock unit equals the economic equivalent of one share of Movado common stock.
  • F2: Units were granted under the issuer’s Deferred Compensation Plan and are distributable in equal annual installments for 10 years following the reporting person’s termination of employment.
• Transaction type: Award/grant of a derivative (phantom) interest, not an open-market purchase or sale.

Context

• Phantom stock units are a form of deferred compensation that track the economic value of company shares but typically are not tradable stock until/unless paid out; they do not necessarily indicate an immediate change in insider sentiment toward the stock.
• Payout timing and tax treatment depend on the Deferred Compensation Plan terms (here, payouts occur over 10 years after termination), so this award represents future economic exposure rather than immediately tradable shares.