JOHNSON & JOHNSON — Director's Dealing 2011

Jan 12, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2011-01-10

Reporting Person: Gorsky Alex (Member, Executive Committee)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-10	Common Stock	A	2604	—	Acquired	5079	Direct
2010-12-31	Common Stock	J	42	—	Acquired	172	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-10	Employee Stock Options (Right to Buy)	$62.20	A	144695	Acquired	2021-01-10	Common Stock (144695)	Direct
2011-01-10	Restricted Share Units	$	A	12058	Acquired		Common Stock (12058)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1074	Indirect

Footnotes

F1: Awarded under Issuer's Executive Incentive Plan.

F2: Shares acquired in the Johnson & Johnson Stock Fund under Johnson & Johnson's 401(k) Savings Plan as of Plan's most recent reporting date (12/31/2010).

F3: Shares held by ESOP under Johnson & Johnson's 401(k) Savings Plan as of Plan's most recent reporting date (12/31/2010).

F4: Awarded under Issuer's Long-Term Incentive Plan.

F5: Each Restricted Share Unit represents a contingent right to receive one share of Company Common Stock.

F6: The Restricted Share Units vest three years after date of grant.