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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	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* DE ALONSO MARCELA PEREZ (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) Director 10% Owner X Officer (give title below) Other (specify below) EVP HR
	3. Date of Earliest Transaction (Month/Day/Year) 01/15/2011
	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	01/15/2011		M		5,552	A	$46.25	10,569	D
Common Stock	01/15/2011		F		2,113	D	$46.25	8,456	D
Common Stock	01/18/2011		M		12,500	A	$42.27	20,956	D
Common Stock	01/18/2011		S		12,500(1)	D	$46.15	8,456	D
Common Stock								46,623(2)	I	Merrill Lynch Joint Account

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 Stk Option (right to buy)	$42.27	01/18/2011		M			12,500	01/18/2008(3)	01/18/2015	Common Stock	12,500	$0	0	D
Restricted Stock Units	(4)	01/15/2011		M			5,552(5)	(5)	(5)	Common Stock	5,552	(5)	0	D
Restricted Stock Units	(4)	12/30/2010		A		8.5471		(6)	(6)	Common Stock	8.5471	(6)	4,553.5471(6)	D
Restricted Stock Units	(4)	12/30/2010		A		20.1117		(7)	(7)	Common Stock	20.1117	(7)	10,644.1117(7)	D

Explanation of Responses:

1. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 11/29/10.

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

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

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

5. As previously reported, on 01/15/09 the reporting person was granted 10,940 restricted stock units ("RSUs"), 5,470 of which vested on 01/15/10, and 5,470 of which vested 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 in column 5 includes 10.3549 vested dividend equivalent rights at $42.26 per RSU credited to the reporting person's account on 12/30/10, and a deminimus adjustment of 0.9590 due to fractional rounding of the dividend equivalent rights.

6. As previously reported, on 12/10/09 the reporting person was granted 9,030 restricted stock units ("RSUs"), 4,515 of which vested on 12/10/10 and 4,515 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 8.5471 dividend equivalent rights at $42.26 per RSU credited to the reporting person's account on 12/30/10.

7. As previously reported, on 12/10/10 the reporting person was granted 10,624 restricted stock units ("RSUs"), 5,312 of which will vest on each of 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 20.1117 dividend equivalent rights at $42.26 per RSU credited to the reporting person's account on 12/30/10.

Remarks:

	/s/ David Ritenour as Attorney-in-Fact for Marcela Perez de Alonso	01/19/2011
	** 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).
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