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  <title>SECURITIES AND EXCHANGE COMMISSION</title>
  
  
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  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>UNITED STATES</b></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>SECURITIES AND EXCHANGE COMMISSION</b></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>Washington, D.C.
  20549</p>
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b><u>__________________________</u></b></p>
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>FORM 8-K</b></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>Current Report</p>
  
  <p class=MsoNormal 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 class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>Date of Report (date
  of earliest event reported):&nbsp; January 14, 2008</p>
  
  
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b><u>PARKWAY PROPERTIES, INC</u></b><u>.</u></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Exact Name of
  Registrant as Specified in its Charter)</p>
  
  
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p class=MsoNormal 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;&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 class=MsoNormal 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; (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 class=MsoNormal 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; 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 class=MsoNormal style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p class=MsoNormal 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 class=MsoNormal 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 class=MsoNormal align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><u>(601) 948-4091</u></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Registrant's
  telephone number, including area code)</p>
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'><u>Not
  Applicable</u></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Former name or
  former address, if changed since last report)</p>
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal 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 class=MsoNormal style='text-indent:.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#9633;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to
  Rule 425 under the Securities Act (17 CFR 230.425)</p>
  
  <p class=MsoNormal style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#9633;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule
  14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
  
  <p class=MsoNormal style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#9633;&nbsp;&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 class=MsoNormal style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#9633;&nbsp;&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 class=MsoNormal style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0' align="center">
  Page 1 of 4 Pages</p>
  
  
  
  <hr color="#000080">
  <p style="margin-top: 0; margin-bottom: 0">
  
  
  
  <br clear=all
  style='page-break-before:always'>
  
  
  </p>
  
  
  <p class=MsoNormal style='text-align:justify'><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 class=MsoNormal>On January 14, 2008, the Compensation Committee (the
  &quot;Committee&quot;) of the Company's Board of Directors established the
  performance measures for the Company's 2008 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 class=MsoNormal>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 that pertain
  to the officer's area of responsibility.&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 2008.&nbsp; The
  Committee has established a threshold and a maximum adjusted FFO performance
  goal for 2008.&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 class=MsoNormal>The following table lists the maximum cash bonuses that the Company's
  named executive officers are eligible to receive with respect to 2008 if the
  individual and Company performance goals are met or exceeded:</p>
  
  
  
  <div align="center">
    <center>
  
  
  
  <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=624
   style='width:6.5in;border-collapse:collapse'>
   <tr style='page-break-inside:avoid'>
    <td width=202 valign=bottom style='width:2.1in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'><b><u>Name
    and Title</u></b></p>
    </td>
    <td width=154 valign=bottom style='width:1.6in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'><b>Bonus
    for Achievement of Individual <u>Performance Goals</u></b></p>
    </td>
    <td width=269 colspan=2 valign=bottom style='width:2.8in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'><b>Bonus
    for Achievement of <br>
    <u>Company Performance Goals</u></b></p>
    </td>
   </tr>
   <tr style='page-break-inside:avoid'>
    <td width=202 valign=bottom style='width:2.1in;padding:0in 5.4pt 0in 5.4pt'>
  
    </td>
    <td width=154 valign=bottom style='width:1.6in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>(Maximum)</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>(Threshold)</p>
    </td>
    <td width=134 valign=bottom style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>(Maximum)</p>
    </td>
   </tr>
   <tr style='page-break-inside:avoid'>
    <td width=202 valign=top style='width:2.1in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt'>Steven G.
    Rogers................... <br>
    President and Chief Executive Officer</p>
    </td>
    <td width=154 valign=top style='width:1.6in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$163,322</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$81,661</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$163,322</p>
    </td>
   </tr>
   <tr style='page-break-inside:avoid'>
    <td width=202 valign=top style='width:2.1in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt'>William R.
    Flatt <br>
    Executive Vice President, Chief Operating Officer and Secretary</p>
    </td>
    <td width=154 valign=top style='width:1.6in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$70,000</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$35,000</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$70,000</p>
    </td>
   </tr>
   <tr style='page-break-inside:avoid'>
    <td width=202 valign=top style='width:2.1in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt'>James M.
    Ingram................... <br>
    Executive Vice President and Chief Investment Officer</p>
    </td>
    <td width=154 valign=top style='width:1.6in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$46,752</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$23,376</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$46,752</p>
    </td>
   </tr>
   <tr style='page-break-inside:avoid'>
    <td width=202 valign=top style='width:2.1in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt'>Mandy M. Pope.................... <br>
    Senior Vice President, Controller and Interim Chief Financial Officer</p>
    </td>
    <td width=154 valign=top style='width:1.6in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$24,750</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$12,375</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$24,750</p>
    </td>
   </tr>
   <tr style='page-break-inside:avoid'>
    <td width=202 valign=top style='width:2.1in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt'>Thomas C.
    Maloney............... <br>
    Executive Vice President and Senior Asset Manager</p>
    </td>
    <td width=154 valign=top style='width:1.6in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$52,108</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$26,054</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$52,108</p>
    </td>
   </tr>
   <tr style='page-break-inside:avoid'>
    <td width=202 valign=top style='width:2.1in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt'>G. Mitch
    Mattingly................. <br>
    Executive Vice President and Senior Asset Manager</p>
    </td>
    <td width=154 valign=top style='width:1.6in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$37,159</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$18,580</p>
    </td>
    <td width=134 valign=top style='width:1.4in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>$37,159</p>
    </td>
   </tr>
  </table>
  
  
  
    </center>
  </div>
  <p class="MsoNormal" align="center" style="margin-top: 6.0pt">Page 2 of 4 Pages</p>
  <hr color="#000080">
  
  
  
  <p class=MsoNormal style='text-align:justify'>Also on January 14, 2008, the
  Committee awarded a total of 34,542 shares of restricted stock to officers of
  the Company, including the following awards to the Company's named executive
  officers:</p>
  
  
  
  <div align=center>
  
  <table class=MsoNormalTable 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 class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'><b>Name
    and Title</b></p>
    </td>
    <td width=192 valign=bottom style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'><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 class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;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 class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>6,250</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt'>William R.
    Flatt <br>
    Executive Vice President, Chief Operating Officer and Secretary</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>3,125</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;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 class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>3,125</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt'>Mandy M. Pope.............................. <br>
    Senior Vice President, Controller and Interim Chief Financial Officer</p>
    </td>
    <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>2,125</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt'>Thomas C.
    Maloney........................ <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 class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>2,500</p>
    </td>
   </tr>
   <tr>
    <td width=240 valign=top style='width:2.5in;padding:0in 5.4pt 0in 5.4pt'>
    <p class=MsoNormal style='margin-top:6.0pt;margin-right:0in;margin-bottom:
    0in;margin-left:9.0pt;margin-bottom:.0001pt;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 class=MsoNormal align=center style='margin-top:6.0pt;text-align:center'>2,500</p>
    </td>
   </tr>
  </table>
  
  </div>
  
  
  
  <p class="MsoNormal" align="center" style="margin-top: 6.0pt">Page 3 of 4 Pages</p>
  <hr color="#000080">
  
  
  
  <p class=MsoNormal style='text-align:justify'>The restricted stock awards for
  the executive officers named above are time-based awards and will vest January
  14, 2012.&nbsp; Of the total restricted stock awards awarded on January 14, 2008,
  34,375 are time-based awards that will vest on January 14, 2012 and 167 are
  performance-based awards that will vest on January 10, 2009, assuming certain
  performance targets are met.&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 class=MsoNormal align=center style='text-align:center'>SIGNATURES</p>
  
  
  
  <p class=MsoNormal style='text-align:justify;text-indent:.5in'>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 class=MsoNormal>Date:&nbsp;&nbsp;&nbsp; January 16, 2008</p>
  
  
  
  <p class=MsoNormal style='text-indent:3.0in'>PARKWAY PROPERTIES, INC.</p>
  
  
  
  
  
  <p class=MsoNormal style='margin-left:3.25in; margin-top:0; margin-bottom:0'>By: &nbsp;&nbsp; ______________________________</p>
  
  <p class=MsoNormal style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp; Mandy M. Pope</p>
  
  <p class=MsoNormal style='margin-left:261.0pt; margin-top:0; margin-bottom:0'>
  Senior Vice President, Controller and </p>
  
  
  
  <p class=MsoNormal style='margin-left:261.0pt; margin-top:0; margin-bottom:0'>
  Interim Chief Financial Officer</p>
  
  
  
  <p class=MsoNormal style='margin-left:261.0pt; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal style='margin-left:261.0pt; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal style='margin-left:261.0pt; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal style='margin-left:261.0pt; margin-top:0; margin-bottom:0'>
  Page 4 of 4 Pages</p>
  
  
  
  </body>
  
  </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": "08533047"}, "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 14, 2008
  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 4 Pages
  Item 5.02.       Departure of
  Directors or Principal Officers; Election of Directors; Appointment of
  Principal Officers; Compensatory Arrangements of Certain Officers
  On January 14, 2008, the Compensation Committee (the
  "Committee") of the Company's Board of Directors established the
  performance measures for the Company's 2008 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 that pertain
  to the officer's area of responsibility.  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 2008.  The
  Committee has established a threshold and a maximum adjusted FFO performance
  goal for 2008.  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 2008 if the
  individual and Company performance goals are met or exceeded:
  Name
    and Title
  Bonus
    for Achievement of Individual
  Performance Goals
  Bonus
    for Achievement of
  Company Performance Goals
  (Maximum)
  (Threshold)
  (Maximum)
  Steven G.
    Rogers...................
  President and Chief Executive Officer
  $163,322
  $81,661
  $163,322
  William R.
    Flatt
  Executive Vice President, Chief Operating Officer and Secretary
  $70,000
  $35,000
  $70,000
  James M.
    Ingram...................
  Executive Vice President and Chief Investment Officer
  $46,752
  $23,376
  $46,752
  Mandy M. Pope....................
  Senior Vice President, Controller and Interim Chief Financial Officer
  $24,750
  $12,375
  $24,750
  Thomas C.
    Maloney...............
  Executive Vice President and Senior Asset Manager
  $52,108
  $26,054
  $52,108
  G. Mitch
    Mattingly.................
  Executive Vice President and Senior Asset Manager
  $37,159
  $18,580
  $37,159
  Page 2 of 4 Pages
  Also on January 14, 2008, the
  Committee awarded a total of 34,542 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 Operating Officer and Secretary
  3,125
  James M.
    Ingram.............................
  Executive Vice President and Chief Investment Officer
  3,125
  Mandy M. Pope..............................
  Senior Vice President, Controller and Interim Chief Financial Officer
  2,125
  Thomas C.
    Maloney........................
  Executive Vice President and Senior Asset Manager
  2,500
  G. Mitch
    Mattingly...........................
  Executive Vice President and Senior Asset Manager
  2,500
  Page 3 of 4 Pages
  The restricted stock awards for
  the executive officers named above are time-based awards and will vest January
  14, 2012.  Of the total restricted stock awards awarded on January 14, 2008,
  34,375 are time-based awards that will vest on January 14, 2012 and 167 are
  performance-based awards that will vest on January 10, 2009, assuming certain
  performance targets are met.  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 16, 2008
  PARKWAY PROPERTIES, INC.
  By:    ______________________________
  Mandy M. Pope
  Senior Vice President, Controller and
  Interim Chief Financial Officer
  Page 4 of 4 Pages