Wendy's Co — Director's Dealing 2004

Jan 21, 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	5000	—	Acquired	11500	Direct
2004-01-20	Class A Common Stock	S	300	$11.7000	Disposed	11200	Direct
2004-01-20	Class A Common Stock	S	2500	$11.6500	Disposed	8700	Direct
2004-01-20	Class A Common Stock	S	400	$11.6300	Disposed	8300	Direct
2004-01-20	Class A Common Stock	S	600	$11.6200	Disposed	7700	Direct
2004-01-20	Class A Common Stock	S	1200	$11.6000	Disposed	6500	Direct
2004-01-20	Class B Common Stock, Series 1	M	10000	—	Acquired	10000	Direct
2004-01-20	Class B Common Stock, Series 1	S	300	$11.4200	Disposed	9700	Direct
2004-01-20	Class B Common Stock, Series 1	S	1000	$11.4000	Disposed	8700	Direct
2004-01-20	Class B Common Stock, Series 1	S	2000	$11.3000	Disposed	6700	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	5000	Disposed	2004-06-09	Class A Common Stock (5000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	1300	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: 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.

F4: With tandem tax withholding rights.

F5: The option vested in two equal installments on June 9, 1995 and 1996.