HP INC — Director's Dealing 2003

Dec 17, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2003-11-17

Reporting Person: WAYMAN ROBERT PAUL (Executive Vice President, Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-17	Common Stock	G	1100	—	Disposed	270400	Direct
2003-11-21	Common Stock	G	900	—	Disposed	269500	Direct
2003-11-21	Common Stock	G	450	—	Disposed	269050	Direct
2003-11-21	Common Stock	G	900	—	Disposed	268150	Direct
2003-11-21	Common Stock	G	1100	—	Disposed	267050	Direct
2003-12-15	Common Stock	A	15000	—	Acquired	282050.4335	Direct

Footnotes

F1: Not applicable.

F2: Award of restricted stock under the Hewlett-Packard Company 2000 Stock Plan in a transaction exempt under Rule 16b-3.

F3: Includes the acquisition of 1,532.8020 shares in April 2003, 14.5773 shares in July 2003 and 16.3463 shares in October 2003 under the Hewlett-Packard Company Share Ownership Plan in a transaction exempt under Rule 16b-3.

F4: The Reporting Person holds an additional 21,096.7360 shares indirectly in a 401(k) account. The Reporting Person's indirect 401(k) holdings include the acquisition of 112.452 shares in July 2003 and 80.643 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 1,120 shares indirectly on behalf of his Son.