HP INC — Director's Dealing 2009

Dec 9, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2009-12-04

Reporting Person: SALHANY LUCILLE S (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-12-04	Common Stock	M	15812	$47.44	Acquired	50217.5664	Direct
2009-12-04	Common Stock	M	1897	$23.72	Acquired	52114.5664	Direct
2009-12-04	Common Stock	S	17709	$49.5623	Disposed	34405.5664	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-12-04	Nonemployee Stock Option (Right to Buy)	$47.44	M	15812	Disposed	2010-04-27	Common Stock (15812)	Direct
2009-12-04	Nonemployee Stock Option (Right to Buy)	$23.72	M	1897	Disposed	2010-04-27	Common Stock (1897)	Direct
2009-07-01	Restricted Stock Units	$	A	8.1901	Acquired		Common Stock (8.1901)	Direct

Footnotes

F1: The total includes the acquisition of 46.688405 shares on 07/07/2009 and 39.467706 shares on 10/13/2009 received in lieu of cash under the Hewlett-Packard Company Dividend Reinvestment Plan in a transaction exempt under Rule 16b-3.

F2: The price in Column 4 is a weighted average price. The prices actually received ranged from $49.55 to $49.57. Upon request, the reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff information regarding the number of shares sold at each price within the range.

F3: This option became exercisable beginning on this date.

F4: Each restricted stock unit represents a contingent right to receive one share of HP common stock.

F5: As previously reported, on 04/20/2009 the reporting person was granted 2,163 restricted stock units ("RSUs"), which will cliff vest on 04/20/2010, at which time the vested shares will be delivered to the reporting person. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The 8.1901 dividend equivalent rights being reported reflect 4.4736 dividend equivalent rights at $38.6800 per RSU credited to the reporting person's account on 07/01/2009 and 3.7165 dividend equivalent rights at $46.5600 per RSU credited to the reporting person's account on 10/07/2009.