JOHNSON & JOHNSON — Director's Dealing 2014

Nov 4, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2014-10-31

Reporting Person: Ullmann Michael H (VP, General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-10-31	Common Stock	M	21490.0000	$66.1800	Acquired	83452.0000	Direct
2014-10-31	Common Stock	M	1510.0000	$66.1800	Acquired	84962.0000	Direct
2014-10-31	Common Stock	F	933.0000	$107.0400	Disposed	84029.0000	Direct
2014-10-31	Common Stock	S	17350.0000	$107.4310	Disposed	66679.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-10-31	Employee Stock Options (Right to Buy)	$66.1800	M	1510.0000	Disposed	2015-02-13	Common Stock (1510.0000)	Direct
2014-10-31	Employee Stock Options (Right to Buy)	$66.1800	M	21490.0000	Disposed	2015-02-13	Common Stock (21490.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	129.0000	Indirect
Common Stock	1287.0000	Indirect

Footnotes

F1: Shares withheld to cover exercise price owed upon exercise of option.

F2: Shares sold to cover exercise price and taxes owed upon exercise of option.

F3: Includes shares accrued due to dividend reinvestment in the Johnson & Johnson Stock Fund under the Johnson & Johnson Savings Plan as of the Plan's most recent reporting date (10/31/2014).

F4: Shares held by ESOP under the Johnson & Johnson Savings Plan as of the Plan's most recent reporting date (10/31/2014).