JOHNSON & JOHNSON — Director's Dealing 2011

May 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2011-05-02

Reporting Person: Gorsky Alex (Member, Executive Committee)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-02	Common Stock	M	73800	—	Acquired	78879	Direct
2011-05-02	Common Stock	F	44634	$66.07	Disposed	34245	Direct
2011-04-29	Common Stock	J	12	—	Acquired	184	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-02	Restricted Share Units	$	M	73800	Disposed		Common Stock (73800)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1074	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 (04/29/2011).

F2: Shares held by ESOP under Johnson & Johnson's 401(k) Savings Plan as of Plan's most recent reporting date (04/29/2011).

F3: Each Restricted Share Unit, awarded under Issuer's Long-Term Incentive Plan on May 1, 2008, represents a contingent right to receive one share of Company Common Stock.

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