HIGHWOODS PROPERTIES, INC. — Director's Dealing 2007

Jul 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HIGHWOODS PROPERTIES INC (HIW)
CIK: 0000921082
Period of Report: 2007-06-30

Reporting Person: STEVENS TERRY L (VP, CFO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-06-30	Phantom Stock	$	A	56.61	Acquired		Common Stock (56.61)	Direct

Footnotes

F1: Security converts to cash price of common stock on a one-for-one basis.

F2: Pursuant to required payout under the Plan.

F3: There is no expiration date to payout election.