X0306 4 2016-03-02 0000729237 PARKWAY PROPERTIES INC PKY 0001532644 Lipsey M. Jayson 390 NORTH ORANGE AVENUE SUITE 2400 ORLANDO FL 32801 0 1 0 0 EVP, CHIEF OPERATING OFFICER Common Stock 2016-03-02 4 F 0 681 13.83 D 111688 D LTIP Units 2016-03-01 4 H 0 14951 D Common OP Units 14951 0 D On March 2, 2016, 2,491 restricted share units vested, and the Reporting Person instructed the Company to withhold 681 shares to cover tax withholding obligations as permitted under the Company's 2015 Omnibus Equity Incentive Plan, as amended. Includes an additional 192.346 shares acquired through the Reporting Person's participation in the Company's Employee Stock Purchase Plan. This transaction is exempt from Section 16(a) of the Securities and Exchange Act of 1934, as amended, pursuant to Rule 16a-3(f)(1)(i)(B). Represents 14,951 previously reported performance-based LTIP units granted on May 16, 2013 pursuant to the Company's 2013 Omnibus Equity Incentive Plan, which was amended, restated and superseded by the Company's 2015 Omnibus Equity Incentive Plan, as amended, with the vesting based upon the satisfaction of certain performance-based criteria relating to the attainment of total stockholder return targets during the period between March 2, 2013 and March 1, 2016. The performance criteria were not met and these LTIP units were not earned. This transaction is exempt from Section 16(b) pursuant to Rule 16b-6(d) and further from the reporting requirements of Section 16(a) pursuant to Rule 16a-4(d), both rules promulgated by the Securities and Exchange Commission pursuant to the Securities and Exchange Act of 1934, as amended. /s/ Jeremy Dorsett, on behalf of M. Jayson Lipsey, as Attorney-in-Fact 2016-03-04