JOHNSON & JOHNSON — Director's Dealing 2011

Feb 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-02	Common	M	1700	$57.30	Acquired	264225	Direct
2011-02-02	Common	M	1915	$52.20	Acquired	266140	Direct
2011-02-02	Common	M	1850	$53.93	Acquired	267990	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-02	Employee Stock Option (Right to Buy)	$57.30	M	1700	Disposed	2012-02-10	Common Stock (1700)	Direct
2011-02-02	Employee Stock Option (Right to Buy)	$52.20	M	1915	Disposed	2013-02-08	Common Stock (1915)	Direct
2011-02-02	Employee Stock Option (Right to Buy)	$53.93	M	1850	Disposed	2014-02-07	Common Stock (1850)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	32582	Indirect
Common	121777	Indirect

Footnotes

F1: 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.

F2: Awarded under Issuer's Stock Option Plan and exercisable in full starting three years from date of grant.