JOHNSON & JOHNSON
For the period ended Mar 11, 2026. Filed Mar 11, 2026.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Mar 11, 2026 · Filed Mar 11, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
Filed by the Registrantý
Filed by a Party other than the Registranto
Check the appropriate box:
| o | Preliminary Proxy Statement |
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| o | Confidential, for the Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
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| ý | Definitive Proxy Statement |
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| o | Definitive Additional Materials |
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| o | Soliciting Material under § 240.14a-12 |
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Johnson & Johnson
(Name of Registrant as Specified in Its Charter)
(Name of Person(s) Filing Proxy Statement, if Other Than Registrant)
Payment of Filing Fee (Check all boxes that apply):
| ý | No fee required. |
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| o | Fee paid previously with preliminary materials. |
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| o | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-(6)(i)(4) and 0-11. |
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Notice of Annual Meeting & Proxy Statement
| TimeThursday, April 23, 202610:00 a.m., Eastern Time | Locationwww.virtualshareholdermeeting.com/JNJ2026 | Record DateFebruary 24, 2026 |
Items of Business
| Proposals | BoardRecommendation | Page | |
|---|---|---|---|
| Elect the 12 nominees named in this Proxy Statement to serve as Directors for the coming year. | FOR each Director nominee | Page 12 | |
| Vote, on an advisory basis, to approve named executive officer compensation. | FOR | Page 48 | |
| Ratify the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for 2026. | FOR | Page 116 | |
| Vote on the shareholder proposal contained in this Proxy Statement, if properly presented at the Annual Meeting. | AGAINST | Page 119 | |
| Transact such other matters as may properly come before the Annual Meeting and at any adjournment or postponement of the Annual Meeting. | |||
You are invited to attend the Annual Meeting of Shareholders of Johnson & Johnson.
The 2026 Annual Meeting will be held online in a virtual format.
You or your proxyholder will be able to attend the 2026 Annual Meeting online, vote and submit questions by visitingwww.virtualshareholdermeeting.com/JNJ2026 and using the 16-digit control number included on your notice, on your proxy card or in the voting instructions that accompanied your proxy materials.
By order of the Board of Directors,
Marc Larkins
Worldwide Vice President, Corporate Governance
Corporate Secretary
March 11, 2026
| VotingYou are eligible to vote if you were a shareholder of record at the close of business on February 24, 2026. Ensure that your shares are represented at the meeting by voting in one of several ways: | |
| To vote via the internet prior to the meeting, go to the website listed on your proxy card or notice. | |
| To vote by phone, call the telephone number specified on your proxy card or on the website listed on your notice. | |
| If you received paper copies of your proxy materials, mark, sign, date and return your proxy card in the postage-paid envelope provided to vote by mail. | |
| Whether or not you plan to attend the Annual Meeting, we call on you to vote and submit your proxy in advance of the meeting by using one of the methods described above. |
| 2026 Proxy Statement | 1 |
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Important notice regarding the availability of Proxy Materials for the
Annual Meeting of Shareholders of Johnson & Johnson
to be held on April 23, 2026.
The Proxy Statement and Annual Report to Shareholders are available at
www.investor.jnj.com/asm
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Table of contents
| 5 | A message from our Lead Independent Director |
| 6 | Living into Our Credo |
| 8 | 2026 Proxy Statement – summary |
| 12 | Board of Directors and corporate governance |
| ITEM 1: Election of Directors | |
| 12 | 2026 Board nominees |
| 13 | Director nomination process and Board refreshment |
| 15 | Nominee skills, expertise and background |
| 16 | Board nominee biographies |
| 22 | Corporate governance |
| 22 | Corporate governance highlights |
| 24 | Board structure and operations |
| 33 | Oversight of our Company |
| 38 | Shareholder engagement |
| 39 | Related person transactions and Director independence |
| 42 | Director compensation |
| 42 | Fiscal 2026 non-employee Director compensation |
| 42 | Fiscal 2025 non-employee Director compensation |
| 44 | Director compensation policies and practices |
| 44 | Deferred fee plan for Directors |
| 44 | Additional arrangements |
| 45 | Stock ownership guidelines for non-employee Directors |
| 45 | Stock ownership information |
| 45 | Security ownership of certain beneficial owners, officers and Directors |
| 48 | Compensation of executives |
| ITEM 2: Advisory vote to approve named executive officer compensation | |
| 49 | A message from our Compensation & Benefits Committee |
| 50 | Compensation Committee report |
| 51 | Compensation discussion and analysis |
| 52 | 2025 Executive compensation summary |
| 57 | 2025 Executive compensation |
| 64 | Compensation decisions for 2025 performance |
| 66 | NEO performance and compensation summaries |
| 70 | Executive compensation decision process |
| 75 | Additional information concerning executive compensation |
| 77 | Compensation policies and practices |
| 78 | Compensation decisions for 2024 performance |
| 79 | Reconciliation of non-GAAP performance measures |
| 82 | Executive compensation tables |
| 82 | Reconciliation of our CEO's 2025 total direct compensation to the 2025 summary compensation table |
| 85 | 2025 Summary compensation table |
| 91 | 2025 Grants of plan-based awards |
| 94 | 2025 Outstanding equity awards at fiscal year-end |
| 97 | 2025 Option exercises and stock vested |
| 97 | 2025 Pension benefits |
| 99 | 2025 Non-qualified deferred compensation |
| 102 | 2025 Potential payments upon termination |
| 105 | Ratio of the annual total compensation of the median-paid employee to the CEO |
| 106 | Pay versus performance |
| 114 | Equity grant practices |
| 115 | Audit matters |
| 115 | Audit Committee report |
| ITEM 3: Ratification of appointment of independent registered public accounting firm | |
| 117 | Selection and engagement of audit firm |
| 117 | Audit and non-audit fees |
| 118 | Pre-approval of audit and non-audit services |
| ITEM 4: Shareholder proposal — independent board chair | |
| 122 | Other information |
| 128 | Non-GAAP reconciliation |
| Index of frequently requested information (alphabetical) | |||||||
|---|---|---|---|---|---|---|---|
| 123 | Annual Meeting attendance | 22 | Corporate governance highlights | 59 | Long-term incentives | 102 | Severance benefits |
| 77 | Anti-pledging, hedging policy | 36 | Cybersecurity | 123 | Notice and access | 38 | Shareholder engagement |
| 117 | Auditor fees | 16 | Director biographies | 57 | Pay for performance | 119 | Shareholder proposal |
| 117 | Auditor tenure | 40 | Director independence | 72 | Peer group comparisons | Stock ownership requirements: | |
| 14 | Board and Committees evaluation | 23 | Director overboarding policy | 64 | Perquisites | 45 | for non-employee Directors |
| 24 | Board leadership structure | 13 | Director qualifications | 37 | Political spending oversight | 77 | for executive officers |
| 33 | Board meeting attendance | 78 | Exec. comp. recoupment policies | 35 | Product quality and patient safety | 37 | Sustainability and environmental |
| 105 | CEO pay ratio | 37 | Human capital management | 22 | Proxy access | stewardship | |
| 66 | CEO performance evaluation | 26 | Lead Independent Director duties | 39 | Related person transactions | 122 | Voting |
| 71 | Compensation consultant | and responsibilities | 33 | Risk oversight | 127 | Websites and resources | |
| 52 | Compensation summary | ||||||
| 2026 Proxy Statement | 3 |
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Our Credo
We believe our first responsibility is to the patients, doctors and nurses, to mothers and fathers and all others who use our products and services. In meeting their needs everything we do must be of high quality. We must constantly strive to provide value, reduce our costs and maintain reasonable prices. Customers' orders must be serviced promptly and accurately. Our business partners must have an opportunity to make a fair profit.
We are responsible to our employees who work with us throughout the world. We must provide an inclusive work environment where each person must be considered as an individual. We must respect their diversity and dignity and recognize their merit. They must have a sense of security, fulfillment and purpose in their jobs. Compensation must be fair and adequate and working conditions clean, orderly and safe. We must support the health and well-being of our employees and help them fulfill their family and other personal responsibilities. Employees must feel free to make suggestions and complaints. There must be equal opportunity for employment, development and advancement for those qualified. We must provide highly capable leaders and their actions must be just and ethical.
We are responsible to the communities in which we live and work and to the world community as well. We must help people be healthier by supporting better access and care in more places around the world. We must be good citizens - support good works and charities, better health and education, and bear our fair share of taxes. We must maintain in good order the property we are privileged to use, protecting the environment and natural resources.
Our final responsibility is to our stockholders. Business must make a sound profit. We must experiment with new ideas. Research must be carried on, innovative programs developed, investments made for the future and mistakes paid for. New equipment must be purchased, new facilities provided and new products launched. Reserves must be created to provide for adverse times. When we operate according to these principles, the stockholders should realize a fair return.
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