Wendy's Co — Director's Dealing 2007

May 25, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRIARC COMPANIES INC (TRY;TRY.B)
CIK: 0000030697
Period of Report: 2007-05-23

Reporting Person: TSAI GERALD JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-23	Class A Common Stock	M	3000	—	Acquired	9018	Direct
2007-05-23	Class A Common Stock	M	2000	—	Acquired	11018	Direct
2007-05-23	Class A Common Stock	M	4000	—	Acquired	15018	Direct
2007-05-23	Class A Common Stock	M	4000	—	Acquired	19018	Direct
2007-05-23	Class A Common Stock	M	4000	—	Acquired	23018	Direct
2007-05-23	Class A Common Stock	S	2800	$17.05	Disposed	20218	Direct
2007-05-23	Class A Common Stock	S	800	$17.06	Disposed	19418	Direct
2007-05-23	Class A Common Stock	S	3500	$17.07	Disposed	15918	Direct
2007-05-23	Class A Common Stock	S	4200	$17.08	Disposed	11718	Direct
2007-05-23	Class A Common Stock	S	500	$17.09	Disposed	11218	Direct
2007-05-23	Class A Common Stock	S	7900	$17.10	Disposed	3318	Direct
2007-05-23	Class A Common Stock	S	1000	$17.11	Disposed	2318	Direct
2007-05-23	Class A Common Stock	S	100	$17.12	Disposed	2218	Direct
2007-05-23	Class A Common Stock	S	100	$17.17	Disposed	2118	Direct
2007-05-23	Class A Common Stock	S	1200	$17.19	Disposed	918	Direct
2007-05-23	Class A Common Stock	S	500	$17.20	Disposed	418	Direct
2007-05-23	Class A Common Stock	S	200	$17.21	Disposed	218	Direct
2007-05-23	Class A Common Stock	S	218	$17.23	Disposed	0	Direct
2007-05-23	Class B Common Stock, Series 1	M	6000	—	Acquired	18036	Direct
2007-05-23	Class B Common Stock, Series 1	M	4000	—	Acquired	22036	Direct
2007-05-23	Class B Common Stock, Series 1	M	8000	—	Acquired	30036	Direct
2007-05-23	Class B Common Stock, Series 1	M	8000	—	Acquired	38036	Direct
2007-05-23	Class B Common Stock, Series 1	M	8000	—	Acquired	46036	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-23	Stock Option (right to buy)	$25.6500	M	3000	Disposed	2008-05-06	Class A Common Stock (3000)	Direct
2007-05-23	Stock Option (right to buy)	$18.4000	M	2000	Disposed	2010-06-22	Class A Common Stock (2000)	Direct
2007-05-23	Stock Option (right to buy)	$24.6500	M	4000	Disposed	2011-06-21	Class A Common Stock (4000)	Direct
2007-05-23	Stock Option (right to buy)	$25.8200	M	4000	Disposed	2012-06-04	Class A Common Stock (4000)	Direct
2007-05-23	Stock Option (right to buy)	$26.4500	M	4000	Disposed	2013-06-03	Class A Common Stock (4000)	Direct

Footnotes

F1: As a result of the special extraordinary cash dividends paid in 2006, on December 14, 2006, the Compensation Committee and the Performance Compensation Committee of the Board of Directors of Triarc determined to reduce the exercise price of each stock option that was granted prior to August 21, 2003 by $0.45 for each option outstanding at the opening of the market on each of February 15, 2006, June 29, 2006 and December 1, 2006, aggregating $1.35 per share. Accordingly, the previously reported exercise price of this stock option was reduced by $1.35 per share.

F2: 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 Equity Participation Plans 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.

F3: This stock option was previously reported as an option for 3,000 shares of Class A Common Stock at an exercise price of $27.00 per share, but was adjusted to reflect the stock dividend referred to in note (2) above. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, 6,000 shares of Class B Common Stock, Series 1 for no additional consideration.

F4: This stock option was previously reported as an option for 2,000 shares of Class A Common Stock at an exercise price of $19.75 per share, but was adjusted to reflect the stock dividend referred to in note (2) above. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, 4,000 shares of Class B Common Stock, Series 1 for no additional consideration.

F5: This stock option was previously reported as an option for 4,000 shares of Class A Common Stock at an exercise price of $26.00 per share, but was adjusted to reflect the stock dividend referred to in note (2) above. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, 8,000 shares of Class B Common Stock, Series 1 for no additional consideration.

F6: This stock option was previously reported as an option for 4,000 shares of Class A Common Stock at an exercise price of $27.17 per share, but was adjusted to reflect the stock dividend referred to in note (2) above. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, 8,000 shares of Class B Common Stock, Series 1 for no additional consideration.

F7: This stock option was previously reported as an option for 4,000 shares of Class A Common Stock at an exercise price of $27.80 per share, but was adjusted to reflect the stock dividend referred to in note (2) above. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, 8,000 shares of Class B Common Stock, Series 1 for no additional consideration.

F8: With tandem tax withholding rights.

F9: The option vested in two equal installments on May 6, 1999 and 2000.

F10: The option vested in two equal installments on June 22, 2000 and 2001.

F11: The option vested in two equal installments on June 21, 2002 and 2003.

F12: The option vested in two equal installments on June 4, 2003 and 2004.

F13: The option vested in two equal installments on June 3, 2004 and 2005.