JOHNSON & JOHNSON — Director's Dealing 2010

Jul 2, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2010-06-30

Reporting Person: GOGGINS COLLEEN A (Member, Executive Committee)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-06-30	Common	J	11	—	Acquired	161	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-06-30	Phantom Stock Units	$	A	156	Acquired		Common Stock (156)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	105658	Direct
Common	1029	Indirect

Footnotes

F1: Shares acquired in the Johnson & Johnson Stock Fund under Johnson & Johnson's 401(k) Savings Plan as of Plan's most recent reporting date (6/30/2010).

F2: Shares held by ESOP under Johnson & Johnson's 401(k) Savings Plan as of Plan's most recent reporting date (6/30/2010).

F3: The Phantom Stock converts into common stock on a one-for-one basis.

F4: Phantom Stock Units acquired under the Issuer's Executive Income Deferral Plan on June 30, 2010 at $59.05 per share are to be settled in cash upon the Reporting Person's Retirement (with each Phantom Stock Unit representing the fair market value of one share of Common Stock on the settlement date). Alternatively, the cash value represented by the Phantom Stock Units may be transferred by the Reporting Person into an alternative investment account under the Plan at any time.