JOHNSON & JOHNSON — Director's Dealing 2009

Feb 18, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2009-02-12

Reporting Person: WELDON WILLIAM C (Director, Chairman/CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-02-12	Common	A	9741	—	Acquired	172356	Direct
2009-02-13	Common	M	37710	—	Acquired	210066	Direct
2009-02-13	Common	F	13159	$57.31	Disposed	196907	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-02-13	Restricted Share Units	$	M	37710	Disposed		Common (37710)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	0	Indirect
Common	0	Indirect
Common	28847	Indirect
Common	156931	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Units	$		Common Stock (0)	41682	Direct

Footnotes

F1: Awarded under Issuer's Long-Term Incentive Plan.

F2: Shares held in the Johnson & Johnson Stock Fund under Johnson & Johnson's 401(k) Savings Plan as of (02/04/2009).

F3: Shares held by ESOP under Johnson & Johnson's 401(k) Savings Plan as of (02/04/2009).

F4: 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.

F5: The Phantom Stock Units held under the Issuer's Executive Income Deferral Plan are to be settled in cash upon the Reporting Person's Retirement.

F6: The Phantom Stock converts into common stock on a one-for-one basis.

F7: The Restricted Share Units, awarded under Issuer's Long-Term Incentive Plan on February 13, 2006, vested three years after date of grant.

F8: Not applicable.