Edgar Filing: TRIARC COMPANIES INC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

MAY PETER W

2. Issuer Name and Ticker or Trading Symbol
TRIARC COMPANIES INC [TRY;TRY.B]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	__X__ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President and COO

(Last)

(First)

(Middle)

TRIARC COMPANIES, INC., 280 PARK AVENUE

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2006

(Street)

NEW YORK, NY 10017

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	12/15/2006		M		322,815	A	⁽¹⁾	3,646,075	D
Class A Common Stock	12/15/2006		M		47,518	A	⁽¹⁾	3,693,593	D
Class B Common Stock, Series 1	12/15/2006		M		900,000	A	⁽¹⁾	4,873,953	D
Class B Common Stock, Series 1	12/15/2006		M		645,630	A	⁽¹⁾	5,519,583	D
Class B Common Stock, Series 1	12/15/2006		M		95,036	A	⁽¹⁾	5,614,619	D
Class A Common Stock	12/15/2006		M		125,000	A	⁽²⁾ ⁽³⁾ ⁽⁴⁾	3,818,593	D
Class A Common Stock	12/15/2006		M		100,000	A	⁽²⁾ ⁽⁴⁾ ⁽⁵⁾	3,918,593	D
Class A Common Stock	12/15/2006		M		150,000	A	⁽²⁾ ⁽⁴⁾ ⁽⁶⁾	4,068,593	D
Class A Common Stock	12/15/2006		M		125,000	A	⁽²⁾ ⁽⁴⁾ ⁽⁷⁾	4,193,593	D
Class A Common Stock	12/15/2006		M		175,000	A	⁽²⁾ ⁽⁴⁾ ⁽⁸⁾	4,368,593	D
Class A Common Stock	12/15/2006		F		794,757 ⁽¹⁰⁾	D	$ 21.14 ⁽¹⁰⁾	3,604,648	D
Class B Common Stock, Series 1	12/15/2006		M		250,000	A	⁽²⁾ ⁽³⁾ ⁽⁴⁾	5,864,619	D
Class B Common Stock, Series 1	12/15/2006		M		200,000	A	⁽²⁾ ⁽⁴⁾ ⁽⁵⁾	6,064,619	D
Class B Common Stock, Series 1	12/15/2006		M		61,624	A	⁽²⁾ ⁽⁴⁾ ⁽⁹⁾	6,126,243	D
Class B Common Stock, Series 1	12/15/2006		M		300,000	A	⁽²⁾ ⁽⁴⁾ ⁽⁶⁾	6,426,243	D
Class B Common Stock, Series 1	12/15/2006		M		250,000	A	⁽²⁾ ⁽⁴⁾ ⁽⁷⁾	6,676,243	D
Class B Common Stock, Series 1	12/15/2006		M		350,000	A	⁽²⁾ ⁽⁴⁾ ⁽⁸⁾	7,026,243	D
Class B Common Stock, Series 1	12/15/2006		F		2,361,063	D	$ 19.5	4,665,180	D
Class A Common Stock	12/15/2006		M		30,812	A	⁽²⁾ ⁽⁴⁾ ⁽⁹⁾	4,399,405	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (right to buy) ⁽¹¹⁾

$ 12.54 ⁽²⁾ ⁽³⁾

12/15/2006

125,000 ⁽³⁾ ⁽⁴⁾

⁽¹²⁾

03/20/2007

Class A Common Stock ⁽³⁾ ⁽⁴⁾

125,000

$ 0

Employee Stock Option (right to buy) ⁽¹¹⁾

$ 23.31 ⁽²⁾ ⁽⁵⁾

12/15/2006

100,000 ⁽⁴⁾ ⁽⁵⁾

⁽¹³⁾

12/12/2007

Class A Common Stock ⁽⁴⁾ ⁽⁵⁾

100,000

$ 0

Employee Stock Option (right to buy) ⁽¹¹⁾

$ 16.78 ⁽¹⁾

12/15/2006

322,815

12/29/2005

01/01/2009

Class A Common Stock

322,815

$ 0

Employee Stock Option (right to buy) ⁽¹¹⁾

$ 14.94 ⁽¹⁾

12/15/2006

645,630

12/29/2005

01/01/2009

Class B Common Stock, Series 1

645,630

$ 0

Employee Stock Option (right to buy) ⁽¹¹⁾

$ 17.75 ⁽²⁾ ⁽⁹⁾

12/15/2006

30,812 ⁽⁴⁾ ⁽⁹⁾

⁽¹⁴⁾

12/22/2009

Class A Common Stock ⁽⁴⁾ ⁽⁹⁾

30,812

$ 0

Employee Stock Option (right to buy) ⁽¹¹⁾

$ 16.78 ⁽¹⁾

12/15/2006

47,518

12/29/2005

12/22/2009

Class A Common Stock

47,518

$ 0

Employee Stock Option (right to buy) ⁽¹¹⁾

$ 14.94 ⁽¹⁾

12/15/2006

95,036

12/29/2005

12/22/2009

Class B Common Stock, Series 1

95,036

$ 0

Employee Stock Option (right to buy) ⁽¹¹⁾

$ 25.44 ⁽²⁾ ⁽⁶⁾

12/15/2006

150,000 ⁽⁴⁾ ⁽⁶⁾

⁽¹⁵⁾

12/14/2010

Class A Common Stock ⁽⁴⁾ ⁽⁶⁾

150,000

$ 0

Employee Stock Option (right to buy) ⁽¹¹⁾

$ 24.6 ⁽²⁾ ⁽⁷⁾

12/15/2006

125,000 ⁽⁴⁾ ⁽⁷⁾

⁽¹⁶⁾

12/06/2011

Class A Common Stock ⁽⁴⁾ ⁽⁷⁾

125,000

$ 0

Employee Stock Option (right to buy) ⁽¹¹⁾

$ 26.93 ⁽²⁾ ⁽⁸⁾

12/15/2006

175,000 ⁽⁴⁾ ⁽⁸⁾

⁽¹⁷⁾

12/18/2012

Class A Common Stock ⁽⁴⁾ ⁽⁸⁾

175,000

$ 0

Employee Stock Option (right to buy) ⁽¹¹⁾

$ 15.09 ⁽¹⁾

12/15/2006

900,000

⁽¹⁸⁾

02/15/2015

Class B Common Stock, Series 1

900,000

$ 0

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
MAY PETER W TRIARC COMPANIES, INC. 280 PARK AVENUE NEW YORK, NY 10017	X	X	President and COO

Signatures

/s/ May, Peter W.		12/19/2006
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	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 after August 21, 2003 by $0.15 for each option outstanding at the opening of the market on each of February 15, 2006, June 29, 2006 and December 1, 2006, aggregating $0.45 per share. Accordingly, the reported exercise price of this stock option was reduced by $.45 per share.
(2)	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 reported exercise price of this stock option was reduced by $1.35 per share.
(3)	This employee stock option was previously reported as an option for 125,000 shares of Class A Common Stock at an exercise price of $12.54 per share, but was adjusted to reflect the stock dividend referred to in note (4) below. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, two shares of Class B Common Stock, Series 1, for each share of Class A Common Stock issuable upon exercise of the option for no additional consideration.
(4)	On August 11, 2003, 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 and 1998 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.
(5)	This employee stock option was previously reported as an option for 100,000 shares of Class A Common Stock at an exercise price of $23.3125 per share, but was adjusted to reflect the stock dividend referred to in note (4) above. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, two shares of Class B Common Stock, Series 1, for each share of Class A Common Stock issuable upon exercise of the option for no additional consideration.
(6)	This employee stock option was previously reported as an option for 150,000 shares of Class A Common Stock at an exercise price of $25.4375 per share, but was adjusted to reflect the stock dividend referred to in note (4) above. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, two shares of Class B Common Stock, Series 1, for each share of Class A Common Stock issuable upon exercise of the option for no additional consideration.
(7)	This employee stock option was previously reported as an option for 125,000 shares of Class A Common Stock at an exercise price of $24.60 per share, but was adjusted to reflect the stock dividend referred to in note (4) above. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, two shares of Class B Common Stock, Series 1, for each share of Class A Common Stock issuable upon exercise of the option for no additional consideration.
(8)	This employee stock option was previously reported as an option for 175,000 shares of Class A Common Stock at an exercise price of $26.93 per share, but was adjusted to reflect the stock dividend referred to in note (4) above. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, two shares of Class B Common Stock, Series 1, for each share of Class A Common Stock issuable upon exercise of the option for no additional consideration.
(9)	This employee stock option was previously reported as an option for 100,000 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 (4) above. As a result of the stock dividend, the option also entitled the reporting person to receive, upon exercise, two shares of Class B Common Stock, Series 1, for each share of Class A Common Stock issuable upon exercise of the option for no additional consideration.
(10)	794,757 shares of Class A Common Stock and 2,361,063 shares of Class B Common Stock Series 1, were withheld from the shares issued upon exercise of the stock options reported herein at a price per share equal to the closing price of such Class A Common Stock and Class B Common Stock, Series 1, respectively, on December 15, 2006, to satisfy the exercise prices and tax withholding obligations in connection with such stock option exercises.
(11)	With tandem tax withholding rights.
(12)	The option vested in three equal installments on March 20, 1998, 1999 and 2000.
(13)	The option vested in three equal installments on December 12, 1998, 1999 and 2000.
(14)	The option vested in three equal installments on December 22, 2000, 2001 and 2002.
(15)	The option vested in three equal installments on December 14, 2001, 2002 and 2003.
(16)	The option vested in three equal installments on December 6, 2002, 2003 and 2004
(17)	The option vested in three equal installments on December 18, 2003 , 2004 and 2005.
(18)	The option vested in full on December 21, 2005.

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