Wendy's Co — Director's Dealing 2004

Jan 22, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRIARC COMPANIES INC (TRY;TRY.B)
CIK: 0000030697
Period of Report: 2004-01-20

Reporting Person: CLIVE CHAJET (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-20	Class A Common Stock	M	10000	$19.3750	Acquired	16500	Direct
2004-01-21	Class A Common Stock	S	2000	$11.6000	Disposed	14500	Direct
2004-01-21	Class A Common Stock	S	1700	$11.6100	Disposed	12800	Direct
2004-01-21	Class A Common Stock	S	300	$11.6200	Disposed	12500	Direct
2004-01-21	Class A Common Stock	S	1700	$11.7300	Disposed	10800	Direct
2004-01-21	Class A Common Stock	S	200	$11.7400	Disposed	10600	Direct
2004-01-21	Class A Common Stock	S	2900	$11.6500	Disposed	7700	Direct
2004-01-21	Class A Common Stock	S	300	$11.7500	Disposed	7400	Direct
2004-01-21	Class A Common Stock	S	100	$11.7700	Disposed	7300	Direct
2004-01-21	Class A Common Stock	S	800	$11.7600	Disposed	6500	Direct
2004-01-20	Class B Common Stock, Series 1	M	20000	—	Acquired	39700	Direct
2004-01-21	Class B Common Stock, Series 1	S	6700	$11.4000	Disposed	33000	Direct
2004-01-21	Class B Common Stock, Series 1	S	2300	$11.3500	Disposed	30700	Direct
2004-01-21	Class B Common Stock, Series 1	S	300	$11.3400	Disposed	30400	Direct
2004-01-21	Class B Common Stock, Series 1	S	900	$11.3300	Disposed	29500	Direct
2004-01-21	Class B Common Stock, Series 1	S	300	$11.3100	Disposed	29200	Direct
2004-01-21	Class B Common Stock, Series 1	S	1400	$11.2500	Disposed	27800	Direct
2004-01-21	Class B Common Stock, Series 1	S	4000	$11.2900	Disposed	23800	Direct
2004-01-21	Class B Common Stock, Series 1	S	100	$11.3500	Disposed	23700	Direct
2004-01-21	Class B Common Stock, Series 1	S	100	$11.2700	Disposed	23600	Direct
2004-01-21	Class B Common Stock, Series 1	S	2000	$11.2000	Disposed	21600	Direct
2004-01-21	Class B Common Stock, Series 1	S	300	$11.2300	Disposed	21300	Direct
2004-01-21	Class B Common Stock, Series 1	S	7500	$11.1500	Disposed	13800	Direct
2004-01-21	Class B Common Stock, Series 1	S	800	$11.3000	Disposed	13000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-20	Stock Option (right to buy)	$19.3750	M	10000	Disposed	2004-06-09	Class A Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	1300	Indirect
Class B Common Stock, Series 1	2600	Indirect

Footnotes

F1: On August 11, 2003, Triarc Companies, Inc. (Triarc) declared a stock dividend, payable to all holders of record of Class A Common Stock on August 21, 2003, of two shares of Class B Common Stock, Series 1 for each share of Class A Common Stock outstanding. As a result of the stock dividend, each outstanding option granted under Triarc's 1993 Equity Participation Plan was adjusted so that each such option outstanding as of August 21, 2003, became exercisable for both one share of Class A Common and two shares of Class B Common Stock, Series 1.

F2: This stock option was previously reported as an option for 15,000 shares of Class A Common Stock at an exercise price of $19.3750 per share, but was adjusted to reflect the stock dividend referred to in note (1) above. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, 30,000 shares of Class B Common Stock, Series 1 for no additional consideration.

F3: Includes shares of Class B Common Stock, Series 1, received in connection with a stock dividend paid by Triarc Companies, Inc. to all holders of record of Class A Common Stock on August 21, 2003, of two shares of Class B Common Stock, Series 1, for each share of Class A Common Stock oustanding.

F4: The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

F5: With tandem tax withholding rights.

F6: The option vested in two equal installments on June 9, 1995 and 1996.