X0303 4 2011-01-12 0000729237 PARKWAY PROPERTIES INC PKY 0001326373 Flatt William R ONE JACKSON PLACE, SUITE 1000 188 E. CAPITOL STREET JACKSON MS 39201 0 1 0 0 EVP & Chief Operating Officer Common Stock 2011-01-12 4 F 0 771 17.84 D 72831.238 D Common Stock 2011-01-14 4 A 0 2700 A 75531.238 D Stock Options 33.65 2011-07-22 Common Stock 2500 2500 D On January 12, 2011, 3,125 incentive restricted shares vested and the Reporting Person instructed the Company to withhold 771 shares to cover tax withholding obligations as permitted under the Company's 2003 Equity Incentive Plan, as amended. Grant of time-based restricted shares pursuant to the Company's 2010 Omnibus Equity Incentive Plan, as amended. These restricted shares will vest 25% on each of January 14, 2012, 2013, 2014 and 2015. As of the date hereof, the Reporting Person's direct beneficial ownership includes 9,876 incentive restricted shares granted under the Company's 2003 Equity Incentive Plan, as amended, and 42,300 restricted shares granted under the Company's 2010 Omnibus Equity Incentive Plan, as amended, that have not yet vested. All of the options are currently exercisable. Michael C. Donlon, Attorney-in-Fact for William R. Flatt 2011-01-14