content: <html>
  
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  <title>SECURITIES AND EXCHANGE COMMISSION</title>
  
  
  
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  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  
  
  
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>UNITED STATES</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>SECURITIES AND EXCHANGE COMMISSION</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Washington, D.C.
  20549</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b><u>__________________________</u></b></p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>FORM 8-K</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Current Report</p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Pursuant to Section
  13 or 15(d) of the Securities Exchange Act of 1934</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Date of Report (date
  of earliest event reported):&nbsp; January 12, 2007</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b><u>PARKWAY PROPERTIES, INC</u></b><u>.</u></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Exact Name of
  Registrant as Specified in its Charter)</p>
  
  
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Maryland</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>1-11533</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>74-2123597</u></p>
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; (State or Other Jurisdiction &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Commission
  File Number)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (IRS Employer</p>
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of Incorporation)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identification
  No.)</p>
  
  
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'><u>One
  Jackson Place, Suite 1000, 188 East Capitol Street, Jackson, MS 39225-4647</u></p>
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'>(Address
  of Principal Executive Offices, including zip code)</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><u>(601) 948-4091</u></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Registrant's
  telephone number, including area code)</p>
  
  
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'><u>Not
  Applicable</u></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Former name or
  former address, if changed since last report)</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-indent:.5in; margin-top:0; margin-bottom:0'>Check the appropriate box below if
  the Form 8-K filing is intended to simultaneously satisfy the filing obligation
  of the registrant under any of the following provisions (see General
  Instruction A.2. below):</p>
  
  
  
  <p style='text-indent:.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#61551;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to
  Rule 425 under the Securities Act (17 CFR 230.425)</p>
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#61551;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule
  14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#61551;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications
  pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#61551;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications
  pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
  
  
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
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  <p style='text-align:justify; margin-top:0; margin-bottom:0'><b>Item 5.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Departure of
  Directors or Principal Officers; Election of Directors; Appointment of
  Principal Officers; Compensatory Arrangements of Certain Officers</b></p>
  
  
  
  
  
  
  
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>On January 12, 2007, the
  Compensation Committee (the &quot;Committee&quot;) of the Company's Board of
  Directors established the performance measures for the Company's 2007 cash incentive
  bonus awards for officers of the Company.&nbsp; The annual incentive performance
  goals are not set forth in a written agreement.</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>The amount of the annual cash
  bonus that an officer may receive is based upon two components - (a) an
  individual performance goal component, and (b) a company performance goal
  component.&nbsp; Fifty percent of the total cash bonus award for each officer will
  be awarded, at the discretion of the officer's immediate supervisor or the
  Committee, as the case may be, based on the achievement of predetermined
  individual performance goals.&nbsp; The remaining fifty percent is based on the
  achievement of goals related to Company performance as measured by the
  Company's adjusted funds from operations (FFO) per share in 2007.&nbsp; The
  Committee has established a threshold and a maximum adjusted FFO performance
  goal for 2007.&nbsp; The Committee has determined that the adjustments to FFO (as
  computed in accordance with standards established by the National Association
  of Real Estate Investment Trusts) should include the amortization of
  above/below market leases, changes for impairment of value to real estate,
  expenses related to the early extinguishment of debt, the expense of original
  issue cost associated with redemption of preferred stock, the gain or loss of
  sales of real property and similar adjustments that may be made in the
  Committee's sole discretion.&nbsp; </p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>The following table lists the
  maximum cash bonuses that the Company's named executive officers are eligible
  to receive with respect to 2007 if the individual and Company performance goals
  are met or exceeded:</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
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  <br clear=all
  style='page-break-before:always'>
  
  
  
  
  
  
  
  
  
  
  
  
  </p>
  <div align="center">
    <center>
  
  
  
  
  
  
  
  
  
  
  
  
  <table class=MsoTableGrid border=0 cellspacing=0 cellpadding=0 width=624
   style='width:6.5in;border-collapse:collapse'>
   <tr>
    <td width=240 valign=bottom style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='margin-top:0;text-align:center; margin-bottom:0'><b>Name and Title</b></p>
    </td>
    <td width=192 valign=bottom style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='margin-top:0;text-align:center; margin-bottom:0'><b>Maximum Bonus for Achievement of Individual
    Performance Goals</b></p>
    </td>
    <td width=192 valign=bottom style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='margin-top:0;text-align:center; margin-bottom:0'><b>Maximum Bonus for Achievement of Company Performance
    Goals </b></p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>Steven G. Rogers............................. <br>
    President and Chief Executive Officer</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$125,000</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$125,000</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>William R. Flatt ............................... <br>
    Executive Vice President, Chief Financial Officer and Secretary</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$51,750</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$51,750</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>David R. Fowler............................... <br>
    Senior Vice President</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$17,200</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$17,200</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>James M. Ingram............................. <br>
    Executive Vice President and Chief Investment Officer</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$45,390</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$45,390</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>Thomas C. Maloney......................... <br>
    Executive Vice President and Chief Operating Officer</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$50,590</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$50,590</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>G. Mitch Mattingly............................ <br>
    Executive Vice President and Senior Asset Manager</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$30,923</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:.6in;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>$30,923</p>
    </td>
   </tr>
  </table>
  
  
  
    </center>
  </div>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>Also on January 12, 2007, the
  Committee approved the award of 35,375 shares of restricted stock to officers
  of the Company, including the following awards to the Company's named executive
  officers:</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <div align=center>
  
  <table class=MsoTableGrid border=0 cellspacing=0 cellpadding=0 width=432
   style='width:4.5in;border-collapse:collapse'>
   <tr>
    <td width=240 valign=bottom style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='margin-top:0;text-align:center; margin-bottom:0'><b>Name
    and Title</b></p>
    </td>
    <td width=192 valign=bottom style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=center style='margin-top:0;text-align:center; margin-bottom:0'><b>Restricted
    Stock Award</b></p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>Steven G.
    Rogers............................. <br>
    President and Chief Executive Officer</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:48.6pt;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>6,250</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>William R.
    Flatt <br>
    Executive Vice President, Chief Financial Officer and Secretary</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:48.6pt;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>3,125</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>David R.
    Fowler.............................. <br>
    Senior Vice President</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:48.6pt;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>500</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>James M.
    Ingram............................. <br>
    Executive Vice President and Chief Investment Officer</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:48.6pt;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>3,125</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>Thomas C.
    Maloney........................ <br>
    Executive Vice President and Chief Operating Officer</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:48.6pt;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>3,125</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p style='margin-top:0;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:0;text-indent:-9.0pt'>G. Mitch
    Mattingly........................... <br>
    Executive Vice President and Senior Asset Manager</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p align=right style='margin-top:0;margin-right:48.6pt;
    margin-bottom:0in;margin-left:0in;margin-bottom:0;text-align:right'>2,500</p>
    </td>
   </tr>
  </table>
  
  </div>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>The restricted stock awards are
  time-based awards and will vest January 12, 2011.&nbsp; The awards are made in
  accordance with the terms of the Company's 2003 Equity Incentive Plan (the
  &quot;Incentive Plan&quot;) and each award is governed by a restricted stock
  agreement.&nbsp; The Company's stockholders approved the Incentive Plan at the
  Company's 2003 Annual Meeting of Stockholders.&nbsp; The Incentive Plan was filed
  with the SEC on April 1, 2003 as part of the Company's definitive proxy
  statement.&nbsp; The Form of Restricted Stock Award Agreement for time-based awards
  was previously filed as Exhibit 10.2 to the Company's Form 8-K filed with the
  SEC on June 29, 2006.</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>SIGNATURES</p>
  
  
  
  <p style='text-align:justify;text-indent:.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify;text-indent:.5in; margin-top:0; margin-bottom:0'>Pursuant to the
  requirements of the Securities Exchange Act of 1934, the registrant has duly
  caused this report to be signed on its behalf by the undersigned hereunto duly
  authorized.</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">Date:&nbsp;&nbsp;&nbsp; January 19, 2007</p>
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PARKWAY PROPERTIES, INC.</p>
  
  
  
  
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>By: /s/ Mandy M. Pope</u></p>
  
  
  
  
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mandy
  M. Pope</p>
  
  
  
  
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Chief Accounting Officer </p>
  
  
  
  
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>Page 3 of 4 Pages</p>
  
  
  
  
  
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  </html>
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metadata_filer: {"company-data": {"conformed-name": "PARKWAY PROPERTIES INC", "cik": "0000729237", "assigned-sic": "6798", "irs-number": "742123597", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11533", "film-number": "07539684"}, "business-address": {"street1": "ONE JACKSON PL", "street2": "188 E CAPITOL ST STE 1000", "city": "JACKSON", "state": "MS", "zip": "39225-4647", "phone": "6019484091"}, "mail-address": {"street1": "ONE JACKSON PL P O BOX 24647", "street2": "188 E CAPITOL ST STE 1000", "city": "JACKSON", "state": "MS", "zip": "39225"}, "former-company": {"former-conformed-name": "PARKWAY CO", "date-changed": "19951018"}}
text: SECURITIES AND EXCHANGE COMMISSION
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C.
  20549
  __________________________
  FORM 8-K
  Current Report
  Pursuant to Section
  13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (date
  of earliest event reported):  January 12, 2007
  PARKWAY PROPERTIES, INC
  .
  (Exact Name of
  Registrant as Specified in its Charter)
  Maryland
  1-11533
  74-2123597
  (State or Other Jurisdiction             (Commission
  File Number)                      (IRS Employer
  of Incorporation)                                                                                 Identification
  No.)
  One
  Jackson Place, Suite 1000, 188 East Capitol Street, Jackson, MS 39225-4647
  (Address
  of Principal Executive Offices, including zip code)
  (601) 948-4091
  (Registrant's
  telephone number, including area code)
  Not
  Applicable
  (Former name or
  former address, if changed since last report)
  Check the appropriate box below if
  the Form 8-K filing is intended to simultaneously satisfy the filing obligation
  of the registrant under any of the following provisions (see General
  Instruction A.2. below):
         Written communications pursuant to
  Rule 425 under the Securities Act (17 CFR 230.425)
         Soliciting material pursuant to Rule
  14a-12 under the Exchange Act (17 CFR 240.14a-12)
         Pre-commencement communications
  pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
         Pre-commencement communications
  pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Page 1 of 3 Pages
  Item 5.02.       Departure of
  Directors or Principal Officers; Election of Directors; Appointment of
  Principal Officers; Compensatory Arrangements of Certain Officers
  On January 12, 2007, the
  Compensation Committee (the "Committee") of the Company's Board of
  Directors established the performance measures for the Company's 2007 cash incentive
  bonus awards for officers of the Company.  The annual incentive performance
  goals are not set forth in a written agreement.
  The amount of the annual cash
  bonus that an officer may receive is based upon two components - (a) an
  individual performance goal component, and (b) a company performance goal
  component.  Fifty percent of the total cash bonus award for each officer will
  be awarded, at the discretion of the officer's immediate supervisor or the
  Committee, as the case may be, based on the achievement of predetermined
  individual performance goals.  The remaining fifty percent is based on the
  achievement of goals related to Company performance as measured by the
  Company's adjusted funds from operations (FFO) per share in 2007.  The
  Committee has established a threshold and a maximum adjusted FFO performance
  goal for 2007.  The Committee has determined that the adjustments to FFO (as
  computed in accordance with standards established by the National Association
  of Real Estate Investment Trusts) should include the amortization of
  above/below market leases, changes for impairment of value to real estate,
  expenses related to the early extinguishment of debt, the expense of original
  issue cost associated with redemption of preferred stock, the gain or loss of
  sales of real property and similar adjustments that may be made in the
  Committee's sole discretion.
  The following table lists the
  maximum cash bonuses that the Company's named executive officers are eligible
  to receive with respect to 2007 if the individual and Company performance goals
  are met or exceeded:
  Page 2 of 3 Pages
  Name and Title
  Maximum Bonus for Achievement of Individual
    Performance Goals
  Maximum Bonus for Achievement of Company Performance
    Goals
  Steven G. Rogers.............................
  President and Chief Executive Officer
  $125,000
  $125,000
  William R. Flatt ...............................
  Executive Vice President, Chief Financial Officer and Secretary
  $51,750
  $51,750
  David R. Fowler...............................
  Senior Vice President
  $17,200
  $17,200
  James M. Ingram.............................
  Executive Vice President and Chief Investment Officer
  $45,390
  $45,390
  Thomas C. Maloney.........................
  Executive Vice President and Chief Operating Officer
  $50,590
  $50,590
  G. Mitch Mattingly............................
  Executive Vice President and Senior Asset Manager
  $30,923
  $30,923
  Also on January 12, 2007, the
  Committee approved the award of 35,375 shares of restricted stock to officers
  of the Company, including the following awards to the Company's named executive
  officers:
  Name
    and Title
  Restricted
    Stock Award
  Steven G.
    Rogers.............................
  President and Chief Executive Officer
  6,250
  William R.
    Flatt
  Executive Vice President, Chief Financial Officer and Secretary
  3,125
  David R.
    Fowler..............................
  Senior Vice President
  500
  James M.
    Ingram.............................
  Executive Vice President and Chief Investment Officer
  3,125
  Thomas C.
    Maloney........................
  Executive Vice President and Chief Operating Officer
  3,125
  G. Mitch
    Mattingly...........................
  Executive Vice President and Senior Asset Manager
  2,500
  The restricted stock awards are
  time-based awards and will vest January 12, 2011.  The awards are made in
  accordance with the terms of the Company's 2003 Equity Incentive Plan (the
  "Incentive Plan") and each award is governed by a restricted stock
  agreement.  The Company's stockholders approved the Incentive Plan at the
  Company's 2003 Annual Meeting of Stockholders.  The Incentive Plan was filed
  with the SEC on April 1, 2003 as part of the Company's definitive proxy
  statement.  The Form of Restricted Stock Award Agreement for time-based awards
  was previously filed as Exhibit 10.2 to the Company's Form 8-K filed with the
  SEC on June 29, 2006.
  SIGNATURES
  Pursuant to the
  requirements of the Securities Exchange Act of 1934, the registrant has duly
  caused this report to be signed on its behalf by the undersigned hereunto duly
  authorized.
  Date:    January 19, 2007
  PARKWAY PROPERTIES, INC.
  By: /s/ Mandy M. Pope
  Mandy
  M. Pope
  Chief Accounting Officer
  Page 3 of 4 Pages