HP INC — Director's Dealing 2011

Dec 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2011-11-29

Reporting Person: Murrin James T (SVP, Controller & PAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-29	Common Stock	M	30000	$21.75	Acquired	93535.2079	Direct
2011-11-29	Common Stock	S	30000	$27.0157	Disposed	63535.2079	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-29	Employee Stock Option (right to buy)	$21.75	M	30000	Disposed	2012-01-31	Common Stock (30000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	11748.539	Indirect

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $26.9300 to $27.0500. 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.

F2: These shares were held indirectly under the Issuer's 401(k) Plan as of 10/31/11. Fidelity Investments Institutional Services Company, Inc. accounts for holdings in the stock fund in units, comprised of stock and cash reserves. The shares reported represent an approximate value based upon the fund balance and market value of Issuer's common stock.

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.