SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

LESJAK CATHERINE A

(Last)

(First)

(Middle)

(Street)

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/18/2003

3. Issuer Name and Ticker or Trading Symbol
HEWLETT PACKARD CO [ HPQ ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)	X	Other (specify below)
	Sr. Vice President,		Treasurer

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	187.7307	D
Common Stock	211.849	I	Husband

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option⁽¹⁾	11/18/1994	11/17/2003	Common Stock	3,070	$7.2	D
Stock Option⁽²⁾	11/17/1999	11/16/2004	Common Stock	3,838	$7.39	D
Stock Option⁽³⁾	11/17/2000	11/16/2005	Common Stock	2,302	$13.175	D
Stock Option⁽⁴⁾	11/21/1997	11/20/2006	Common Stock	3,454	$20.51	D
Stock Option⁽⁵⁾	02/12/2000	02/11/2009	Common stock	8,958	$22.22	D
Stock Option⁽⁶⁾	02/15/2001	02/14/2010	Common Stock	15,358	$48.495	D
Stock Option⁽⁷⁾	06/05/2005	06/04/2010	Common Stock	200	$59.58	D
Stock Option⁽⁸⁾	07/07/2003	07/06/2010	Common Stock	10,000	$45.645	D
Stock Option⁽⁹⁾	07/07/2001	07/06/2010	Common Stock	10,000	$60.86	D
Stock Option⁽¹⁰⁾	02/26/2002	02/25/2011	Common Stock	10,000	$30.09	D
Stock Option⁽¹¹⁾	11/09/2003	11/08/2011	Common Stock	5,000	$18.8	D
Stock Option⁽¹²⁾	01/31/2003	01/30/2012	Common Stock	18,000	$21.75	D
Stock Option⁽¹³⁾	04/16/2004	04/15/2011	Common Stock	17,755	$15.745	D

Explanation of Responses:

1. Right to buy Hewlett-Packard Company common stock granted under the 1990 Stock Option Plan complying with Rule 16b-3. This option became fully vested on 11/18/97.

2. Right to buy Hewlett-Packard Company common stock granted under the 1990 Stock Option Plan complying with Rule 16b-3. This option became vested on 11/17/1999.

3. Right to buy Hewlett-Packard Company common stock granted under the 1990 Stock Option Plan complying with Rule 16b-3. This option became fully vested on 11/17/00.

4. Right to buy Hewlett-Packard Company common stock granted under the 1995 Stock Option Plan complying with Rule 16b-3. This option became fully vested on 11/21/00.

5. Right to buy Hewlett-Packard Company common stock granted under the 1995 Stock Option Plan complying with Rule 16b-3. This option became fully vested on 02/12/03.

6. Right to buy Hewlett-Packard Company common stock granted under the 1995 Stock Option Plan complying with Rule 16b-3. This option became exercisable in 25% increments annually on 02/15/01.

7. Right to buy Hewlett-Packard Company common stock granted under the 2000 Stock Option Plan complying with Rule 16b-3. This option will become fully exercisable after the fifth year.

8. Right to buy Hewlett-Packard Company common stock granted under the 2000 Stock Option Plan complying with Rule 16b-3. This option became fully vested on 07/07/03.

9. Right to buy Hewlett-Packard Company common stock granted under the 2000 Stock Option Plan complying with Rule 16b-3. This option became exercisable in 25% increments annually on 07/07/01.

10. Right to buy Hewlett-Packard Company common stock granted under the 2000 Stock Option Plan complying with Rule 16b-3. This option became exercisable in 25% increments annually on 02/26/02.

11. Right to buy Hewlett-Packard Company common stock granted under the 2000 Stock Option Plan complying with Rule 16b-3. This option became exercisable in 25% increments annually on 11/09/02.

12. Right to buy Hewlett-Packard Company common stock granted under the 2000 Stock Option Plan complying with Rule 16b-3. This option became exercisable in 25% increments annually on 01/31/03.

13. Right to buy Hewlett-Packard Company common stock granted under the 2000 Stock Option Plan complying with Rule 16b-3. This option will be exercisable in 25% increments annually beginning on 4/16/04.

	Catherine A. Lesjak	07/24/2003
	** 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 5 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.