HP INC — Director's Dealing 2011

Nov 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2011-10-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-10-31	Common Stock	M	2618	$26.61	Acquired	64758.2079	Direct
2011-10-31	Common Stock	F	1223	$26.61	Disposed	63535.2079	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-10-05	Restricted Stock Units	$	A	15.1383	Acquired		Common Stock (15.1383)	Direct
2011-10-05	Restricted Stock Units	$	A	35.6127	Acquired		Common Stock (35.6127)	Direct
2011-10-31	Restricted Stock Units	$	M	2618	Disposed		Common Stock (2618)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	11748.539	Indirect

Footnotes

F1: The total beneficial ownership includes 0.0008 shares at $25.7300 per share acquired through dividends paid under the HP 2011 Employee Stock Purchase Plan ("ESPP") on 10/05/11 with respect to shares held under the ESPP.

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

F4: As previously reported, on 12/10/09 the reporting person was granted 6,020 restricted stock units ("RSUs"), 3,010 of which vested on 12/10/10 and 3,010 of which will vest on 12/10/11. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The 15.1383 dividend equivalent rights being reported reflect 15.1383 dividend equivalent rights at $23.86 per RSU credited to the reporting person's account on 10/05/11.

F5: As previously reported, on 12/10/10 the reporting person was granted 7,081 restricted stock units ("RSUs"), 3,540 of which will vest on 12/10/11 and 3,541 of which will vest on 12/10/12. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The 35.6127 dividend equivalent rights being reported reflect 35.6127 dividend equivalent rights at $23.86 per RSU credited to the reporting person's account on 10/05/11.

F6: As previously reported, on 08/01/11 the reporting person was granted 10,400 restricted stock units ("RSUs"), 2,600 of which vested on 10/31/11, 5,200 of which will vest on 10/31/12, and 2,600 of which will vest on 04/30/13. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The number of derivative securities in column 9 includes 52.3051 vested dividend equivalent rights at $23.86 per RSU credited to the reporting person's account on 10/05/11, and a deminimus adjustment of 0.6949 due to fractional rounding of the dividend equivalent rights.