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JOHNSON & JOHNSON Director's Dealing 2008

Dec 1, 2008

29750_dirs_2008-12-01_2f6335a7-d862-428a-880d-36cfc0de0d4b.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2008-11-26

Reporting Person: McCoy Sherilyn S (Member, Executive Committee)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2008-11-26 Common Stock M 8800 $40.16 Acquired 47821 Direct
2008-11-26 Common Stock F 6020 $58.70 Disposed 41801 Direct
2008-11-30 Common Stock J 282 Acquired 6557 Indirect

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2008-11-26 Employee Stock Option (Right to Buy) $40.16 M 8800 Disposed 2008-12-02 Common Stock (8800) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 17292 Indirect

Footnotes

F1: Adjusted to reflect two-for-one stock split in 2001.

F2: Shares acquired under Johnson & Johnson's 401(k) and ESOP Savings Plans as of Plans' most recent reporting date (11/30/2008).

F3: The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

F4: Awarded under Issuer's Stock Option Plan and exercisable in full starting three years from date of grant.