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JOHNSON & JOHNSON Director's Dealing 2008

Oct 20, 2008

29750_dirs_2008-10-20_32df9e34-b625-4997-870e-0df591b29365.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: 2008-10-17

Reporting Person: PEREZ WILLIAM D (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2008-10-17 Common Stock P 2000 $62.65 Acquired 4619 Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 3000 Indirect

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Phantom Stock Units $ Common (0) 2098 Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $62.50 to $62.80. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F2: The Phantom Stock Units held under the Issuer's Non-Employee Director Deferred Fee Plan are to be settled in cash upon the Reporting Person's Retirement.

F3: 1 for 1