HP INC — Director's Dealing 2003

Jul 23, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2003-07-21

Reporting Person: WINKLER MICHAEL J (Executive Vice President, Chief Marketing Officer)

Footnotes

F1: Surrender of shares under the Compaq Computer Corporation Deferred Compensation and Supplemental Savings Plan to satisfy a tax withholding obligation in a transaction exempt under Rule 16b-3.

F2: The Reporting Person holds an additional 4,589.0060 shares indirectly in a 401(k) account. The referenced 4,589.0060 indirect shares also includes the acquisition of 23.644 shares in April 2003 under the Compaq Computer Corporation 401(k) Investment Plan in a transaction exempt under Rule 16b-3.