HP INC — Director's Dealing 2011

Apr 27, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2011-04-25

Reporting Person: Lane Raymond J. (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-12-30	Restricted Stock Units	$	A	172.608	Acquired		Common Stock (172.608)	Direct
2011-04-25	Restricted Stock Units	$	A	6786	Acquired		Common Stock (6786)	Direct

Footnotes

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

F2: As previously reported, on 11/01/10 the reporting person was granted 45,000 restricted stock units ("RSUs"), 15,000 of which will vest on 11/01/11, and 30,000 of which will vest on 11/01/13. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The 172.6080 dividend equivalent rights being reported reflect 85.1869 dividend equivalent rights at $42.26 per RSU credited to the reporting person's account on 12/30/10 and 87.4211 dividend equivalent rights at $41.18 per RSU credited to the reporting person's account on 04/06/11.

F3: On 04/25/11 the reporting person was granted 6,786 restricted stock units ("RSUs"), all of which will cliff vest on 04/25/12. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock.