JOHNSON & JOHNSON - Director's Dealing 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2008-02-11

Reporting Person: Caruso Dominic J (Chief Financial Officer)

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-11	Employee Stock Option (Right to Buy)	$61.75	A	82591	Acquired	2018-02-10	Common Stock (82591)	Direct
2008-02-11	Restricted Share Units	$	A	6883	Acquired		Common Stock (6883)	Direct

Security	Shares	Ownership
Common Stock	9674	Direct
Common Stock	240	Indirect

F1: Shares held under Johnson & Johnson's 401(k) and ESOP Savings Plans as of Plans' most recent reporting date (01/31/2008).

F2: Awarded under Issuer's Long-Term Incentive Plan.

F3: Each Restricted Share Unit represents a contingent right to receive one share of Company Common Stock.

F4: The Restricted Share Units vest three years after date of grant.