JOHNSON & JOHNSON — Director's Dealing 2012

Sep 12, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2012-09-07

Reporting Person: COSGROVE STEPHEN J (Corporate Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-09-07	Common Stock	M	23085	$52.20	Acquired	102915	Direct
2012-09-07	Common Stock	S	20085	$67.78	Disposed	82830	Direct
2012-08-31	Common Stock	J	17	—	Acquired	404	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-09-07	Employee Stock Option (Right to Buy)	$52.20	M	23085	Disposed	2013-02-08	Common Stock (23085)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1594	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $67.75 to $67.83. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F2: Shares acquired in the Johnson & Johnson Stock Fund under the Johnson & Johnson 401(k) Savings Plan as of Plan's most recent reporting date (08/31/2012).

F3: Shares held by ESOP under the Johnson & Johnson 401(k) Savings Plan as of Plan's most recent reporting date (8/31/2012).

F4: Awarded under Issuer's Stock Option Plan and exercisable in full starting three years from date of grant.