HP INC — Director's Dealing 2007

Mar 7, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2007-03-05

Reporting Person: WAYMAN ROBERT PAUL (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-05	Common Stock	S	3000	$39.31	Disposed	159548.1135	Direct
2007-03-05	Common Stock	S	2700	$39.32	Disposed	156848.1135	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	21046.811	Indirect
Common Stock	95142	Indirect
Common Stock	2820	Indirect
Common Stock	550	Indirect

Footnotes

F1: This is the third of three Form 4's to be filed, as the number of transactions reported on Table 1 exceeded the number of lines available on the first two forms.

F2: Represents the reporting person's holdings under the Hewlett-Packard Company 401(k) Plan as of February 28, 2007.

F3: Represents shares held in a custodial account by the reporting person's wife for the benefit of their son. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purpose of Section 16 or for any other purposes.

F4: This transaction involed a gift of securities by the reporting person to his son, who shares reporting person's household. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purpose of Section 16 or for any other purposes.