HP INC — Director's Dealing 2009

Oct 15, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2009-10-09

Reporting Person: LESJAK CATHERINE A (EVP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-10-09	Common Stock	M	5000	$30.09	Acquired	47517	Direct
2009-10-09	Common Stock	S	5000	$47.40	Disposed	42517	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-10-09	Employee Stock Option (right to buy)	$30.09	M	5000	Disposed	2011-02-26	Common Stock (5000)	Direct
2009-10-01	Restricted Stock Units	$	A	45.1031	Acquired		Common Stock (45.1031)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	306	Indirect

Footnotes

F1: The total beneficial ownership reflects a deminimus reduction adjustment for .07932 fractional shares sold as part of the sale reported previously on 08/20/09, and a deminimus increased adjustment of .0281 fractional shares due to rounding.

F2: The sale reported on this Form 4 were effectuated pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 28, 2009.

F3: This option became exercisable in four equal annual installments 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 01/15/09 the reporting person was granted 26,250 restricted stock units ("RSUs"), 13,125 of which will vest on each of 01/15/10 and 01/15/11. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The 45.1031 dividend equivalent rights being reported reflect 45.1031 dividend equivalent rights at $45.96 per RSU credited to the reporting person's account on 10/01/09.

F6: There is no reportable change since the last filing. This is a reiteration of holdings only.