SEC Form 4

FORM 4
[ ] Check this box if no longer
subject to Section 16. Form 4 or Form
5 obligations may continue.
See Instruction 1(b).
(Print or Type Responses) UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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
OMB APPROVAL

OMB Number: 3235-0287 Expires: January 31, 2005
Estimated average burden
hours per response. . . . . 0.5

1. Name and Address of Reporting Person* Tsai, Jr., Gerald      (Last)                      (First)                      (Middle) Triarc Companies, Inc. 280 Park Avenue (Street) New York, NY     10017 (City)                      (State)                      (Zip) USA	2. Issuer Name and Ticker or Trading Symbol Triarc Companies, Inc.   TRY		6. Relationship of Reporting Person(s) to Issuer (Check all applicable)            X          Director                           10% Owner                         Officer                             Other 7. Individual or Joint/Group Filing (Check Applicable Line) X   Form filed by One Reporting Person       Form filed by More than One Reporting Person
	3. I.R.S. Identification     Number of Reporting     Person, if an entity     (voluntary)	4. Statement for     Month/Day/Year     January 30, 2003 5. If Amendment,     Date of Original     (Month/Day/Year)

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     and     Voluntary     Code     (Instr. 8) Code  |  V	4. Securities Acquired (A) or Disposed (D) Of     (Instr. 3, 4, and 5)         Amount      |         A/D         |         Price	5. Amount of     Securities     Beneficially     Owned     Following     Reported Transaction(s)     (Instr. 3 and 4)	6. Owner-     ship     Form:     Direct(D)     or     Indirect (I)     (Instr. 4)	7. Nature of      Indirect      Beneficial      Ownership     (Instr. 4)
Class A Common Stock	01/01/2002		J (1) | V	307   |           A           |   $24.41(2)		D
Class A Common Stock	03/18/2002		J (1) | V	55   |           A           |   $27.00(2)		D
Class A Common Stock	04/01/2002		J (1) | V	272   |           A           |   $27.57(2)		D
Class A Common Stock	07/01/2002		J (1) | V	330   |           A           |   $27.24(2)		D
Class A Common Stock	09/19/2002		J (1) |	60   |           A           |   $24.68(2)		D
Class A Common Stock	09/30/2002		J (1) |	313   |           A           |   $23.95(2)		D
Class A Common Stock	10/29/2002		J (1) |	64   |           A           |   $23.17(2)		D
Class A Common Stock	12/30/2002		J (1) |	277   |           A           |   $27.06	5100	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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. (over)
SEC 1474 (9-02)

Tsai, Jr., Gerald - January 30, 2003

Form 4 (continued)

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. Conver-     sion or     Exercise     Price of     Deri-     vative     Security	3. Transaction     Date     (Month/     Day/     Year)	3A. Deemed       Execution       Date, if       any       (Month/       Day/       Year)	4. Transaction     Code     and     Voluntary (V)     Code     (Instr.8) Code | V	5. Number of Derivative     Securities Acquired (A)     or Disposed (D) Of     (Instr. 3,4 and 5)	6. Date Exercisable(DE) and     Expiration Date(ED)     (Month/Day/Year)   (DE)     |     (ED)	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     Transactions     (Instr.4)	10. Owner- ship Form of Deriv- ative Security: Direct (D) or Indirect (I) (Instr.4)	11. Nature of       Indirect       Beneficial       Ownership       (Instr.4)
ESOP-right to buy w/ tandem tax withholding rights	$27.17	06/04/2002		A | V	(A) 4,000	(3) | 06/04/2012	Class A Common Stock - 4,000		4,000	D

Explanation of Responses :

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
        See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:   File three copies of this Form, one of which must be manually signed. If space is insufficient,
            see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB number. /s/ Gerald Tsai, Jr.                   01-30-2003    
** Signature of Reporting Person                         Date



Page 2

Tsai, Jr., Gerald - January 30, 2003

Form 4 (continued)

FOOTNOTE Descriptions for Triarc Companies, Inc. TRY

Form 4 - January 2003

Gerald Tsai, Jr.
Triarc Companies, Inc.
280 Park Avenue
New York, NY 10017

Explanation of responses:

(1)   Shares were issued pursuant to the Company's 1998 Equity Participation Plan in lieu of annual retainer or Board of Directors or committee meeting attendance fees that would otherwise be payable in cash.
(2)   In accordance with the Company's Equity Participation Plan, the price is the average of the closing price per share on the 20 consecutive trading days immediately preceding the date on which the annual retainer or meeting attendance fee would otherwise be payable.
(3)   The option vests in two equal installments on June 4, 2003 and June 4, 2004.

Page 3