JOHNSON & JOHNSON — Director's Dealing 2017

Feb 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2017-02-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-01	Common Stock	M	27735.0000	$65.6200	Acquired	119189.8820	Direct
2017-02-01	Common Stock	S	21735.0000	$112.8798	Disposed	97454.8820	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-01	Employee Stock Options (Right to Buy)	$65.6200	M	27735.0000	Disposed	2017-02-10	Common Stock (27735.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	222.0000	Indirect
Common Stock	1287.0000	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $112.790 to $112.970. 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: 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 (01/31/2017).

F3: Shares held by ESOP under the Johnson & Johnson Savings Plan as of the Plan's most recent reporting date (1/31/2017).