HP INC — Director's Dealing 2012

Mar 1, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEWLETT PACKARD CO (HPQ)
CIK: 0000047217
Period of Report: 2012-02-28

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-28	Common Stock	M	42500	$22.015	Acquired	109579.2087	Direct
2012-02-28	Common Stock	S	42500	$26.1224	Disposed	67079.2087	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-28	Employee Stock Option (right to buy)	$22.015	M	42500	Disposed	2012-03-18	Common Stock (42500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	11798.351	Indirect

Footnotes

F1: The total beneficial ownership includes 0.0008 shares at $26.5149 per share acquired through dividends paid in shares under the HP 2011 Employee Stock Ownership Plan ("ESPP") on 01/04/12 with respect to shares held under the ESPP.

F2: The price in Column 4 is a weighted average price. The prices actually received ranged from $26.12 to $26.13. Upon request, the reporting person will provide to the Issuer, any security holder of the Issuer, or the SEC staff information regarding the number of shares sold at each price within the range.

F3: These shares were held indirectly under the Issuer's 401(k) Plan as of 01/31/12. 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.

F4: This option became exercisable in four annual installments beginning on this date.