SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
WAYMAN ROBERT PAUL
(Last) (First) (Middle)
C/O HEWLETT-PACKARD COMPANY
3000 HANOVER STREET
(Street)
PALO ALTO CA 94304
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
HEWLETT PACKARD CO [ HPQ ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
12/05/2006
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock(1) 12/05/2006 G V 550 D $0 161,198.1135(2) D
Common Stock 12/05/2006 G V 550 A $0 550(3) I By son
Common Stock 12/05/2006 G V 4,350 D $0 156,848.1135 D
Common Stock 03/05/2007 M 179,176 D $24.125 336,024.1135 D
Common Stock 03/05/2007 S 7,476 D $38.9 328,548.1135 D
Common Stock 03/05/2007 S 900 D $38.91 327,648.1135 D
Common Stock 03/05/2007 S 1,500 D $38.9115 326,148.1135 D
Common Stock 03/05/2007 S 5,000 D $38.92 321,148.1135 D
Common Stock 03/05/2007 S 2,300 D $38.93 318,848.1135 D
Common Stock 03/05/2007 S 6,500 D $38.94 312,348.1135 D
Common Stock 03/05/2007 S 6,500 D $38.95 305,848.1135 D
Common Stock 03/05/2007 S 1,800 D $38.9115 304,048.1135 D
Common Stock 03/05/2007 S 4,500 D $38.96 299,548.1135 D
Common Stock 03/05/2007 S 1,100 D $38.9666 298,448.1135 D
Common Stock 03/05/2007 S 2,000 D $38.97 296,448.1135 D
Common Stock 03/05/2007 S 500 D $38.9791 295,548.1135 D
Common Stock 03/05/2007 S 2,000 D $38.98 293,948.1135 D
Common Stock 03/05/2007 S 800 D $38.988 293,148.1135 D
Common Stock 03/05/2007 S 7,500 D $38.99 285,648.1135 D
Common Stock 03/05/2007 S 4,800 D $39 280,848.1135 D
Common Stock 03/05/2007 S 200 D $39.005 280,648.1135 D
Common Stock 03/05/2007 S 5,200 D $39.01 275,448.1135 D
Common Stock 03/05/2007 S 1,100 D $39.0122 274,348.1135 D
Common Stock 03/05/2007 S 8,300 D $39.02 266,048.1135 D
Common Stock 03/05/2007 S 9,000 D $39.03 257,048.1135 D
Common Stock 03/05/2007 S 8,000 D $39.04 249,048.1135 D
Common Stock 03/05/2007 S 500 D $39.0425 248,548.1135 D
Common Stock 03/05/2007 S 3,700 D $39.05 244,848.1135 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $24.125 03/05/2007 M 179,176 11/20/1998(4) 11/20/2007(5) Common Stock 179,176 $0 0 D
Explanation of Responses:
1. This is the first of three Form 4's to be filed, as the number of transactions reported on Table 1 exceeds the number of lines available on this form.
2. Includes the acquisition of 15.7513 shares in January 2007, received in lieu of cash through the dividend reinvestment program under the Hewlett-Packard Company Share Ownership Plan (the "SOP"), in a transaction exempt under Rule 16b-3.
3. This transaction involed a gift of securities by the reporting person to his son, who shares reporting person's household. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of the securities for the purpose of Section 16 or for any other purposes.
4. This option became exercisable in four equal annual installments beginning on this date.
5. This option is no longer exercisable beginning on this date.
Remarks:
/s/Charles N. Charnas, Attorney-in-Fact 03/07/2007
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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