HP INC — Director's Dealing 2003

Dec 18, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2002-11-01

Reporting Person: BASKINS ANN O (Sr. Vice President, General, Counsel and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2002-11-01	Common Stock	A	10	—	Acquired	42384.5724	Direct
2003-12-15	Common Stock	A	480	—	Acquired	42862.5724	Direct

Footnotes

F1: Grant of 10 year service award.

F2: Not applicable.

F3: Award of restricted stock under the Hewlett-Packard Company 2000 Stock Plan in a transaction exempt under Rule 16b-3.

F4: Includes the acquisition of 19.3614 shares in October 2002, 10.4433 shares in January 2003, 13.8842 shares in April 2003, 1,532.8020 shares in May 2003, 14.8641 shares in July 2003 and 16.6678 shares in October 2003 under the Hewlett-Packard Company Share Ownership Plan in a transaction exempt under Rule 16b-3.

F5: The Reporting Person holds an additional 2,640.8680 shares indirectly in a 401(k) account. The Reporting Person's indirect 401(k) holdings include the acquisition of 18.4490 shares in October 2002, 4.125 shares in January 2003, 6.777 shares in April 2003, 3.057 shares in July 2003 and 14.187 shares in October 2003 under the Hewlett-Packard Company Tax Accumulation Plan (a 401(k) plan) in a transaction exempt under Rule 16b-3. The Reporting Person also holds 5,620 shares indirectly on behalf of her Sons.