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: McMullen John N (SVP & Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-10-31	Common Stock	M	1410	$26.61	Acquired	10035	Direct
2011-10-31	Common Stock	F	518	$26.61	Disposed	9517	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-10-05	Restricted Stock Units	$	A	6.0553	Acquired		Common Stock (6.0553)	Direct
2011-10-05	Restricted Stock Units	$	A	14.2531	Acquired		Common Stock (14.2531)	Direct
2011-10-31	Restricted Stock Units	$	M	1410	Disposed		Common Stock (1410)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of HP common stock.

F2: As previously reported, on 12/10/09 the reporting person was granted 2,408 restricted stock units ("RSUs"), 1,204 of which vested on 12/10/10 and 1,204 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 6.0553 dividend equivalent rights being reported reflect 6.0553 dividend equivalent rights at $23.86 per RSU credited to the reporting person's account on 10/05/11.

F3: As previously reported, on 12/10/10 the reporting person was granted 2,834 restricted stock units ("RSUs"), 1,417 of which will vest on each of 12/10/11 and 12/10/12. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The 14.2531 dividend equivalent rights being reported reflect 14.2531 dividend equivalent rights at $23.86 per RSU credited to the reporting person's account on 10/05/11.

F4: As previously reported, on 08/01/11 the reporting person was granted 5,600 restricted stock units ("RSUs"), 1,400 of which vested on 10/31/11, 2,800 of which will vest on 10/31/12, and 1,400 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 28.1643 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 0.8357 due to fractional rounding of the dividend equivalent rights.