HP INC — Director's Dealing 2011

Jun 30, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2011-06-27

Reporting Person: LESJAK CATHERINE A (EVP & CFO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-06	Restricted Stock Units	$	A	21.832	Acquired		Common Stock (21.832)	Direct
2011-04-06	Restricted Stock Units	$	A	92.5401	Acquired		Common Stock (92.5401)	Direct
2011-06-27	Restricted Stock Units	$	A	85764	Acquired		Common Stock (85764)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	0	Direct
Common Stock	22746	Indirect
Common Stock	306	Indirect

Footnotes

F1: The total direct beneficial ownership reflects a decrease of 14,466 shares due to the transfer of 8,433 shares into a joint account with the reporting person's spouse on 01/24/11, and 6,033 shares into a joint account with the reporting person's spouse on 06/01/11.

F2: The total indirect beneficial ownership reflects an increase of 14,466 shares due to the transfer of 8,433 shares previously reported as being held directly by the reporting person into a joint account with the reporting person's spouse on 01/24/11, and 6,033 shares previously reported as being held directly by the reporting person into a joint account with the reporting person's spouse on 06/01/11.

F3: There is no reportable change since the last filing. This is a reiteration of holdings only.

F4: Each restricted stock unit represents a contingent right to receive one share of HP common stock.

F5: As previously reported, on 12/10/09 the reporting person was granted 22,476 restricted stock units ("RSUs"), 11,238 of which vested on 12/10/10 and 11,238 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 21.8320 dividend equivalent rights being reported reflect 21.8320 dividend equivalent rights at $41.18 per RSU credited to the reporting person's account on 04/06/11.

F6: As previously reported, on 12/10/10 the reporting person was granted 47,635 restricted stock units ("RSUs"), 23,817 of which will vest on 12/10/11 and 23,818 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 92.5401 dividend equivalent rights being reported reflect 92.5401 dividend equivalent rights at $41.18 per RSU credited to the reporting person's account on 04/06/11.

F7: On 06/27/11 the reporting person was granted 85,764 restricted stock units ("RSUs") which will vest on 06/27/15 subject to acceleration based on certain stock performance conditions. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock.