HP INC — Director's Dealing 2007

Aug 22, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2007-08-20

Reporting Person: HURD MARK V (Director, Chairman, CEO and President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-08-20	Common Stock	M	100000	$21.73	Acquired	595322	Direct
2007-08-20	Common Stock	S	300	$45.92	Disposed	595022	Direct
2007-08-20	Common Stock	S	300	$45.93	Disposed	594722	Direct
2007-08-20	Common Stock	S	700	$45.94	Disposed	594022	Direct
2007-08-20	Common Stock	S	700	$45.96	Disposed	593322	Direct
2007-08-20	Common Stock	S	200	$45.97	Disposed	593122	Direct
2007-08-20	Common Stock	S	400	$45.98	Disposed	592722	Direct
2007-08-20	Common Stock	S	600	$45.99	Disposed	592122	Direct
2007-08-20	Common Stock	S	1300	$46.00	Disposed	590822	Direct
2007-08-20	Common Stock	S	1700	$46.01	Disposed	589122	Direct
2007-08-20	Common Stock	S	1000	$46.02	Disposed	588122	Direct
2007-08-20	Common Stock	S	1600	$46.03	Disposed	586522	Direct
2007-08-20	Common Stock	S	2000	$46.04	Disposed	584522	Direct
2007-08-20	Common Stock	S	800	$46.05	Disposed	583722	Direct
2007-08-20	Common Stock	S	1300	$46.06	Disposed	582422	Direct
2007-08-20	Common Stock	S	100	$46.07	Disposed	582322	Direct
2007-08-20	Common Stock	S	1300	$46.08	Disposed	581022	Direct
2007-08-20	Common Stock	S	700	$46.09	Disposed	580322	Direct
2007-08-20	Common Stock	S	600	$46.11	Disposed	579722	Direct
2007-08-20	Common Stock	S	100	$46.12	Disposed	579622	Direct
2007-08-20	Common Stock	S	1300	$46.13	Disposed	578322	Direct
2007-08-20	Common Stock	S	1000	$46.14	Disposed	577322	Direct
2007-08-20	Common Stock	S	800	$46.15	Disposed	576522	Direct
2007-08-20	Common Stock	S	1300	$46.16	Disposed	575222	Direct
2007-08-20	Common Stock	S	300	$46.18	Disposed	574922	Direct
2007-08-20	Common Stock	S	300	$46.19	Disposed	574622	Direct
2007-08-20	Common Stock	S	400	$46.20	Disposed	574222	Direct
2007-08-20	Common Stock	S	1100	$46.21	Disposed	573122	Direct
2007-08-20	Common Stock	S	1800	$46.22	Disposed	571322	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-08-20	Employee Stock Option (right to buy)	$21.73	M	100000	Disposed	2013-04-01	Common Stock (100000)	Direct

Footnotes

F1: This is the first of five Form 4's to be filed, as the number of transactions reported on Table 1 exceeds the number of lines available on this form.

F2: The exercise and sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 23, 2007.

F3: This option became exercisable in four equal annual installments beginning on this date.

F4: This option is no longer exercisable beginning on this date.