Johnson & Johnson (JNJ) CEO Joaquin Duato Exercises Options and Sells Shares

What Happened

• Joaquin Duato, CEO and Chairman of Johnson & Johnson, exercised 123,291 stock options (code M) and immediately sold the resulting 123,291 shares in open-market transactions. He paid $115.67 per share to exercise (total cost $14,261,070) and sold shares in two blocks for aggregate proceeds of $32,199,927, producing a pre-tax gross difference of about $17,938,857.

Key Details

• Transaction date: 2026-08-13; Form filed: 2026-08-14 (filed the next day).
• Exercise: 123,291 shares at $115.67 per share (total exercise cost $14,261,070).
• Sales: 20,976 shares at $262.00 ($5,495,712) and 102,315 shares at $261.00 ($26,704,215); total proceeds $32,199,927.
• Derivative reporting: a related derivative disposition is listed at $0.00 (this reflects conversion/exercise of the option instrument).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1 notes include shares from dividend reinvestment under the Johnson & Johnson Savings Plan as of the plan’s most recent reporting date; F2 references awards under the issuer’s Long‑Term Incentive Plan and vesting schedule for option grants.

Context

• This was effectively a cashless exercise (exercised options then sold the acquired shares immediately), a common way for executives to realize gains from vested options. The filing appears timely (reported the business day after the transactions). As always, sales following option exercises reflect execution of compensation/vesting and do not by themselves indicate the executive’s view of the company’s long‑term prospects.