HP INC — Director's Dealing 2011

Aug 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2011-08-01

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-07-06	Restricted Stock Units	$	A	9.9779	Acquired		Common Stock (9.9779)	Direct
2011-07-06	Restricted Stock Units	$	A	23.4729	Acquired		Common Stock (23.4729)	Direct
2011-08-01	Restricted Stock Units	$	A	10400	Acquired		Common Stock (10400)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	62140.2071	Direct
Common Stock	11676.6328	Indirect

Footnotes

F1: The total beneficial ownership includes 0.0006 shares at $36.0510 per share acquired through dividends paid under the HP Share Ownership Plan ("SOP") on 7/06/11 with respect to shares held under the SOP.

F2: These shares were held indirectly under the Issuer's 401(k) Plan as of 07/29/11. 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 9.9779 dividend equivalent rights being reported reflect 9.9779 dividend equivalent rights at $36.20 per RSU credited to the reporting person's account on 07/06/11.

F5: 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 23.4729 dividend equivalent rights being reported reflect 23.4729 dividend equivalent rights at $36.20 per RSU credited to the reporting person's account on 07/06/11.

F6: On 08/01/11 the reporting person was granted 10,400 restricted stock units ("RSUs"), 2,600 of which will vest 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.