HP INC — Director's Dealing 2011

Jan 12, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2011-01-07

Reporting Person: BRADLEY RICHARD TODD (EVP, PSG)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-07	Common Stock	M	15000	$23.765	Acquired	111995	Direct
2011-01-07	Common Stock	S	15000	$45.00	Disposed	96995	Direct
2011-01-07	Common Stock	S	62270	$45.00	Disposed	34725	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-07	Employee Stock Option (right to buy)	$23.765	M	15000	Disposed	2013-06-14	Common Stock (15000)	Direct
2010-12-30	Restricted Stock Units	$	A	27.1746	Acquired		Common Stock (27.1746)	Direct
2010-12-30	Restricted Stock Units	$	A	30.3928	Acquired		Common Stock (30.3928)	Direct
2010-12-30	Restricted Stock Units	$	A	67.0781	Acquired		Common Stock (67.0781)	Direct

Footnotes

F1: The sale reported on this Form 4 was effectuated pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 12/07/10.

F2: Each restricted stock unit represents a contingent right to receive one share of HP common stock.

F3: This option became exercisable in four equal annual installments beginning on this date.

F4: As previously reported, on 01/15/09 the reporting person was granted 28,710 restricted stock units ("RSUs"), 14,355 of which vested on 01/15/10, and 14,355 of which will vest on 01/15/11. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The number of derivative securities beneficially owned in column 9 includes 27.1746 dividend equivalent rights at $42.26 per RSU credited to the reporting person's account on 12/30/10.

F5: As previously reported, on 12/10/09 the reporting person was granted 32,109 restricted stock units ("RSUs"), 16,054 of which vested on 12/10/10 and 16,055 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 number of derivative securities beneficially owned in column 9 includes 30.3928 dividend equivalent rights at $42.26 per RSU credited to the reporting person's account on 12/30/10.

F6: On 12/10/10 the reporting person was granted 35,434 restricted stock units ("RSUs"), 17,717 of which will vest on 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 number of derivative securities beneficially owned in column 9 includes 67.0781 dividend equivalent rights at $42.26 per RSU credited to the reporting person's account on 12/30/10.