X0306 4 2016-12-12 0001677761 Parkway, Inc. PKY 0001520993 Heistand James R 390 NORTH ORANGE AVENUE SUITE 2400 ORLANDO FL 32801 1 1 0 0 PRESIDENT & CEO Common Stock 2016-12-12 4 A 0 19368 A 433220 D Common Stock 2016-12-12 4 A 0 74027 A 507247 D Common Stock 6095 I ACP Laurich Partnership, Ltd. Common Stock 9168 I ACP-JRL Partnership, Ltd., a family limited partnership Represents time-based RSU awards that will vest 1/3 on each of the days immediately prior to the first, second and third anniversaries of the grant date, subject to the executive's continued employment with the Company. Represents performance-based RSU awards that will vest based on the attainment of targets for total return to stockholders during the performance period running from December 12, 2016 to December 11, 2019, subject to the executive's continued employment with the Company. The Reporting Person disclaims beneficial owership 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/ A. Noni Holmes-Kidd, on behalf of James R. Heistand, as Attorney-in-Fact 2016-12-13