Wengel Kathryn E 4

What Happened
Kathryn E. Wengel, EVP and Chief TO and Risk Officer at Johnson & Johnson, exercised stock options to acquire 10,000 JNJ shares at $115.67 per share (cost $1,156,700) on 2026-06-11, and sold 10,000 JNJ shares in an open-market transaction the same day for reported proceeds of $2,411,500 (reported price $241.15 per share). The filing also shows a derivative disposition of 10,000 shares at $0, reflecting the conversion/settlement mechanics of the option exercise.

Key Details

• Transaction date: 2026-06-11. Form 4 filed 2026-06-12 (filed timely).
• Exercise: 10,000 shares at $115.67 — total cost $1,156,700.
• Sale: 10,000 shares — reported proceeds $2,411,500 (listed at $241.15/share). Footnote F1 states the sale was executed in multiple trades at prices ranging $240.14–$240.19; the filing reports a weighted average sale price and offers to provide trade-level detail on request.
• Derivative line: 10,000 shares shown disposed at $0 — reflects the option exercise/conversion reporting.
• Shares owned after transaction: not specified in this Form 4.
• Relevant footnotes: F4 indicates the options were awarded under the issuer’s Long-Term Incentive Plan (award vests/exercisable on the third anniversary of grant). F2/F3 reference shares held/accumulated in the Johnson & Johnson Savings Plan and dividend reinvestment (plan reporting as of 5/31/2026).

Context

• This was an exercise followed by an immediate sale (common “cashless” pattern): proceeds from the sale exceed the exercise cost by roughly $1.25M before taxes and fees (2,411,500 − 1,156,700 = 1,254,800).
• Such exercises with simultaneous sales are routine for executives converting vested option value to cash and do not by themselves indicate a change in company outlook.
• This is not a 10% owner filing; it reports an officer’s regular equity activity under the LTIP.