Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
BABBIO LAWRENCE T JR
  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)
(Last)
(First)
(Middle)
C/O HEWLETT-PACKARD COMPANY, 3000 HANOVER STREET
3. Date of Earliest Transaction (Month/Day/Year)
03/04/2010
(Street)

PALO ALTO, CA 94304
4. If Amendment, Date 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
(City)
(State)
(Zip)
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 03/04/2010   M   15,812 A $ 47.44 52,648 D  
Common Stock 03/04/2010   M   1,053 A $ 23.72 53,701 D  
Common Stock 03/04/2010   S   16,865 D $ 51.5142 (1) 36,836 D  

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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 Underlying Securities
(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 of Derivative Security: 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
Nonemployee Stock Option (Right to Buy) $ 47.44 03/04/2010   M     15,812 04/27/2000(2) 04/27/2010 Common Stock 15,812 $ 0 0 D  
Nonemployee Stock Option (Right to Buy) $ 23.72 03/04/2010   M     1,053 04/27/2001(2) 04/27/2010 Common Stock 1,053 $ 0 0 D  
Restricted Stock Units (3) 07/01/2009   A   11.5063 (4)   04/20/2010(4) 04/20/2019(4) Common Stock 11.5063 (4) $ 0 2,174.5063 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BABBIO LAWRENCE T JR
C/O HEWLETT-PACKARD COMPANY
3000 HANOVER STREET
PALO ALTO, CA 94304
  X      

Signatures

 /s/ David Ritenour as Attorney-in-Fact for Lawrence T. Babbio, Jr.   03/08/2010
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) The price in Column 4 is a weighted average price. The prices actually received ranged from $51.500 to $51.5202. 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.
(2) This option cliff vested and became exercisable beginning on this date.
(3) Each restricted stock unit represents a contingent right to receive one share of HP common stock.
(4) As previously reported, on 04/20/09 the Reporting Person was granted 2,163 restricted stock units ("RSUs"), all of which will cliff vest on 04/20/10, at which time the vested shares will be delivered to the reporting person. Dividend equivalent rights accrue with respect to these RSUs when and as dividends are paid on HP common stock. The 11.5063 dividend equivalent rights being reported reflect 4.4736 dividend equivalent rights at $38.68 per RSU credited to the Reporting Person's account on 07/01/09; 3.7165 dividend equivalent rights at $45.96 per RSU credited to the Reporting Person's account on 10/07/09; and 3.3162 dividend equivalent rights at $52.18 per RSU credited to the Reporting Person's Account on 01/06/10.

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