Wendy's Co — Director's Dealing 2004

Jan 7, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRIARC COMPANIES INC ((TRY))
CIK: 0000030697
Period of Report: 2004-01-06

Reporting Person: MCARRON FRANCIS T (Senior Vice President and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-06	Class A Common Stock	M	5000	—	Acquired	5000	Direct
2004-01-06	Class A Common Stock	S	400	$12.1200	Disposed	4600	Direct
2004-01-06	Class A Common Stock	S	4600	$12.1100	Disposed	0	Direct
2004-01-06	Class B Common Stock, Series 1	M	10000	—	Acquired	11100	Direct
2004-01-06	Class B Common Stock, Series 1	S	7900	$11.1500	Disposed	3200	Direct
2004-01-06	Class B Common Stock, Series 1	S	100	$11.1700	Disposed	3100	Direct
2004-01-06	Class B Common Stock, Series 1	S	300	$11.1900	Disposed	2800	Direct
2004-01-06	Class B Common Stock, Series 1	S	300	$11.2000	Disposed	2500	Direct
2004-01-06	Class B Common Stock, Series 1	S	200	$11.2300	Disposed	2300	Direct
2004-01-06	Class B Common Stock, Series 1	S	100	$11.2400	Disposed	2200	Direct
2004-01-06	Class B Common Stock, Series 1	S	900	$11.2900	Disposed	1300	Direct
2004-01-06	Class B Common Stock, Series 1	S	200	$11.3000	Disposed	1100	Direct
2004-01-06	Class B Common Stock, Series 1	S	1100	$11.3000	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-06	Employee Stock Option (right to buy)	$17.7500	M	5000	Disposed	2009-12-22	Class A Common Stock (5000)	Direct

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 1998 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 employee stock option was previously reported as an option for 25,000 shares of Class A Common Stock at an exercise price of $17.75 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, 50,000 shares of Class B Common Stock, Series 1 for no additional consideration.

F3: With tandem tax withholding rights.

F4: The option vested in three equal installments on December 22, 2000, 2001 and 2002.