HP INC — Director's Dealing 2003

Dec 16, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2003-12-15

Reporting Person: JOHNSON ALLISON (Sr. Vice President, Global Brand Communications)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-15	Common Stock	A	1150	—	Acquired	1150	Direct

Footnotes

F1: Award of restricted stock under the Hewlett-Packard Company 2000 Stock Plan in a transaction exempt under Rule 16b-3.

F2: Not applicable.

F3: Not included in the Reporting Persons direct holdings are 1,048.8260 shares held indirectly in a 401(k) account. The Reporting Persons indirect 401(k) account holdings include the acquisition of 71.329 shares in July 2003 and 5.639 shares in October 2003 under the Hewlett-Packard Tax Accumulation Plan (a 401(k) plan) in a transaction exempt under Rule 16b-3.