HP INC — Director's Dealing 2010

Nov 25, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2010-11-22

Reporting Person: McMullen John N (SVP & Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-22	Common Stock	A	12227	—	Acquired	12227	Direct
2010-11-22	Common Stock	F	5105	$43.25	Disposed	7122	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-04-07	Restricted Stock Units	$	A	7.5256	Acquired		Common Stock (7.5256)	Direct
2010-04-07	Restricted Stock Units	$	A	12.6281	Acquired		Common Stock (12.6281)	Direct

Footnotes

F1: Reflects shares released on November 22, 2010 in connection with the vesting of performance-based restricted stock units granted on January 17, 2008.

F2: Each restricted stock unit represents a contingent right to receive one share of HP common stock.

F3: As previously reported, on 01/15/09 the reporting person was granted 2,870 restricted stock units ("RSUs"), 1,435 of which vested on 01/15/10, and 1,435 of which will vest on 01/15/11. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The number of derivative securities beneficially owned in column 9 includes 2.1543 dividend equivalent rights at $53.29 per RSU credited to the reporting person's account on 04/07/10, 2.5534 dividend equivalent rights at $44.96 per RSU credited to the reporting person's account on 07/07/10, and 2.8179 dividend equivalent rights at $40.74 per RSU credited to the reporting person's account on 10/06/10.

F4: As previously reported, on 12/10/09 the Reporting Person was granted 2,408 restricted stock units ("RSUs"), 1,204 of which will vest on 12/10/10 and 12/10/11. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The number of derivative securities beneficially owned in column 9 includes 3.6149 dividend equivalent rights at $53.29 per RSU credited to the reporting person's account on 04/07/10, 4.2847 dividend equivalent rights at $44.96 per RSU credited to the reporting person's account on 07/07/10, and 4.7285 dividend equivalent rights at $40.74 per RSU credited to the reporting person's account on 10/06/10.