HP INC — Director's Dealing 2007

Apr 25, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2007-04-23

Reporting Person: BABBIO LAWRENCE T JR (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-04-23	Employee Stock Option (right to buy)	$41.35	A	8021	Acquired	2015-04-23	Common Stock (8021)	Direct

Footnotes

F1: This option becomes 100% exercisable beginning on this date.

F2: This option is no longer exercisable beginning on this date.