CLARK SARAH P 4

4 · PARKWAY PROPERTIES INC · Filed Aug 18, 2004

Form 4

Period: 2004-08-17

Senior Vice President

Transactions

Exercise/Conversion
Stock Options
2004-08-17−5,000→ 9,827 total
Exercise: $31.13From: 2000-06-05Exp: 2008-06-04→ Common Stock (5,000 underlying)
Sale
Common Stock
2004-08-18$45.61/sh−800$36,488→ 28,703 total
Exercise/Conversion
Common Stock
2004-08-17$31.13/sh+5,000$155,625→ 33,703 total
Sale
Common Stock
2004-08-18$45.60/sh−4,100$186,960→ 29,603 total
Sale
Common Stock
2004-08-18$45.62/sh−100$4,562→ 28,803 total

Holdings

Stock Options
Exercise: $33.65From: 2003-07-23Exp: 2011-07-22→ Common Stock (4,000 underlying)
4,000
8.00% Series D Preferred Stock
(indirect: By Children)
570
Stock Options
Exercise: $21.00From: 1997-07-01Exp: 2006-06-30→ Common Stock (2,034 underlying)
2,034
Common Stock
(indirect: By Trust)
14,000
Stock Options
Exercise: $26.63From: 1998-07-01Exp: 2007-06-30→ Common Stock (4,991 underlying)
4,991
Stock Options
Exercise: $30.13From: 2002-05-31Exp: 2010-05-30→ Common Stock (11,250 underlying)
11,250
Common Stock
(indirect: By Children)
750

Footnotes (3)

[F1]Includes 10,000 incentive restricted shares granted under the Company's 2003 Equity Incentive Plan.
[F2]Exercisable 1/2 on the first anniversary of the date of grant and 1/2 on the second anniversary of the date of grant.
[F3]Exercisable 1/3 on the second anniversary of the date of grant, 1/3 on the third anniversary of the date of grant and 1/3 on the fourth anniversary of the date of grant.

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