HP INC — Director's Dealing 2003

Dec 19, 2003

SEC Form 5/A — Form 5/A

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2002-10-31

Reporting Person: FIORINA CARLETON S (Director, Chairman and, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2002-07-17	Common Stock	F	85340	$14.19	Disposed	322289	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2002-01-09	Dividend Equivalent Rights	$	A	2587	Acquired		Common Stock (2587)	Direct
2002-04-10	Dividend Equivalent Rights	$	A	3658	Acquired		Common Stock (3658)	Direct
2002-07-10	Dividend Equivalent Rights	$	A	3927	Acquired		Common Stock (3927)	Direct
2002-10-09	Dividend Equivalent Rights	$	A	5539	Acquired		Common Stock (5539)	Direct

Footnotes

F1: Surrender of shares under the Hewlett-Packard Company 1995 Stock Option Plan to satisfy tax witholding obligations in a transaction exempt under Rule 16b-3.

F2: 1-for-1

F3: Represents dividend equivalent rights ("DERs") accrued on restricted stock units held by the Reporting Person. Shares of Common Stock will be issued on a 1-for-1 basis to the Reporting Person upon the first to occur of the following: (i) July 17, 2004, which is the fifth anniversary of the grant date of the restricted stock units with respect to which the DERs are issued, (ii) a change in control of HP or, (iii) the Reporting Person's termination of employment from HP.

F4: Not applicable.

F5: Not required, until the system is modified "0" is being used as an incorrect placeholder.