X0306 4 2014-03-17 0000729237 PARKWAY PROPERTIES INC PKY 0001520993 Heistand James R 390 NORTH ORANGE AVENUE SUITE 2400 ORLANDO FL 32801 0 1 0 0 PRESIDENT & CEO Common Stock 2014-03-17 4 A 0 29555 0 A 1336657 D Common Stock 29916 I ACP Laurich Partnership, Ltd. Common Stock 45000 I By ACP-JRL Partnership, Ltd., a family limited partnership LTIP Units 2014-03-17 4 A 0 44334 0 A Common OP Units 44334 44334 D Represents time-based RSU awards that will vest 25% on each of the first, second, third and fourth anniversaries of the grant date, subject to the executive's continued employment with the Company. Represents performance-based LTIP units that will vest based on the attainment of targets for total return to stockholders during the performance period running from March 17, 2014 to March 16, 2017, subject to the executive's continued employment with the Company. Subject to the satisfaction of the vesting requirements and certain restrictions set forth in the limited partnership agreement of Parkway Properties LP, each LTIP unit may be converted, at the election of the executive or the Company, into an OP unit. Each OP unit acquired upon conversion of an LTIP unit may be redeemed, at the election of the executive, for cash equal to the then fair market value of a share of common stock, except that the Company may, at its election, acquire each OP unit so presented for redemption for one share of common stock. The Reporting Person disclaims beneficial ownership of these securities and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose. /s/Jeremy Dorsett, on behalf of James R. Heistand as Attorney-In-Fact 2014-03-19