HP INC — Director's Dealing 2008

Mar 20, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2008-03-18

Reporting Person: ROBISON SHANE V (EVP, CTO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-03-18	Common Stock	M	75000	$22.015	Acquired	167571.7704	Direct
2008-03-18	Common Stock	G	75000	—	Disposed	92571.7704	Direct
2008-03-18	Common Stock	S	100	$47.08	Disposed	115868	Indirect
2008-03-18	Common Stock	S	1900	$47.13	Disposed	113968	Indirect
2008-03-18	Common Stock	S	200	$47.14	Disposed	113768	Indirect
2008-03-18	Common Stock	S	500	$47.15	Disposed	113268	Indirect
2008-03-18	Common Stock	S	400	$47.16	Disposed	112868	Indirect
2008-03-18	Common Stock	S	350	$47.17	Disposed	112518	Indirect
2008-03-18	Common Stock	S	750	$47.18	Disposed	111768	Indirect
2008-03-18	Common Stock	S	600	$47.19	Disposed	111168	Indirect
2008-03-18	Common Stock	S	3150	$47.20	Disposed	108018	Indirect
2008-03-18	Common Stock	S	9900	$47.21	Disposed	98118	Indirect
2008-03-18	Common Stock	S	3150	$47.22	Disposed	94968	Indirect
2008-03-18	Common Stock	S	7500	$47.23	Disposed	87468	Indirect
2008-03-18	Common Stock	S	4000	$47.24	Disposed	83468	Indirect
2008-03-18	Common Stock	S	100	$47.245	Disposed	83368	Indirect
2008-03-18	Common Stock	S	9900	$47.25	Disposed	73468	Indirect
2008-03-18	Common Stock	S	5325	$47.26	Disposed	68143	Indirect
2008-03-18	Common Stock	S	800	$47.27	Disposed	67343	Indirect
2008-03-18	Common Stock	S	3500	$47.28	Disposed	63843	Indirect
2008-03-18	Common Stock	S	1900	$47.29	Disposed	61943	Indirect
2008-03-18	Common Stock	S	3100	$47.30	Disposed	58843	Indirect
2008-03-18	Common Stock	S	2700	$47.31	Disposed	56143	Indirect
2008-03-18	Common Stock	S	700	$47.32	Disposed	55443	Indirect
2008-03-18	Common Stock	S	1300	$47.33	Disposed	54143	Indirect
2008-03-18	Common Stock	S	1000	$47.34	Disposed	53143	Indirect
2008-03-18	Common Stock	S	1075	$47.35	Disposed	52068	Indirect
2008-03-18	Common Stock	S	100	$47.36	Disposed	51968	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-03-18	Employee Stock Option (right to buy)	$22.015	M	75000	Disposed	2012-03-18	Common Stock (75000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	115968	Indirect

Footnotes

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

F2: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 6, 2008.

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.