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Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Changes in Company's Nonvested Restricted Stock Awards

A summary of changes in the Company’s nonvested Restricted Stock Awards (“RSAs”) under the Omnibus Incentive Plan for the year ended December 31, 2018 were as follows:

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

Grant Date

 

Nonvested RSAs

 

Shares

 

 

Fair Value

 

Nonvested at January 1, 2018

 

 

102,776

 

 

$

18.68

 

Granted

 

 

65,001

 

 

 

40.64

 

Vested

 

 

(64,116

)

 

 

20.42

 

Forfeited

 

 

(2,448

)

 

 

27.44

 

Nonvested at December 31, 2018

 

 

101,213

 

 

$

31.47

 

Summary of Changes in Company's Nonvested Restricted Stock Units

Restricted Stock Units

A summary of changes in the Company’s nonvested Restricted Stock Units (“RSUs”) under the Omnibus Incentive Plan for the year ended December 31, 2018 were as follows:

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

Grant Date

 

Nonvested RSUs

 

Shares

 

 

Fair Value

 

Nonvested at January 1, 2018

 

 

 

 

$

 

Granted

 

 

59,658

 

 

 

38.75

 

Vested

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

Nonvested at December 31, 2018

 

 

59,658

 

 

$

38.75

 

Summary of Changes in Company's Nonvested Performance Stock Units

Performance Stock Units

A summary of changes in the Company’s nonvested Performance Stock Units (“PSUs”) under the Omnibus Incentive Plan for the year ended December 31, 2018 were as follows:

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

Grant Date

 

Nonvested PSUs

 

Shares

 

 

Fair Value

 

Nonvested at January 1, 2018

 

 

 

 

$

 

Granted

 

 

59,658

 

 

 

38.57

 

Vested

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

Nonvested at December 31, 2018

 

 

59,658

 

 

$

38.57

 

Schedule of Performance Stock Units, Valuation Assumptions

 

Year Ended

 

 

 

December 31, 2018

 

Grant date

 

May 1, 2018

 

Performance period

 

5.00 Years

 

Stock price

 

$

38.85

 

Triumph stock price volatility

 

 

29.13

%

Risk-free rate

 

 

2.76

%

 

Summary of Changes in Company's Stock Options

A summary of changes in the Company’s stock options under the Omnibus Incentive Plan for the year ended December 31, 2018 were as follows:

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

Aggregate

 

 

 

 

 

 

 

Weighted Average

 

 

Contractual Term

 

 

Intrinsic Value

 

Stock Options

 

Shares

 

 

Exercise Price

 

 

(In Years)

 

 

(In Thousands)

 

Outstanding at January 1, 2018

 

 

185,328

 

 

$

18.97

 

 

 

 

 

 

 

 

 

Granted

 

 

51,952

 

 

 

38.75

 

 

 

 

 

 

 

 

 

Exercised

 

 

(2,556

)

 

 

17.16

 

 

 

 

 

 

 

 

 

Forfeited or expired

 

 

(3,257

)

 

 

18.91

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2018

 

 

231,467

 

 

$

23.43

 

 

 

7.97

 

 

$

1,921

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fully vested shares and shares expected to vest at December 31, 2018

 

 

231,467

 

 

$

23.43

 

 

 

7.97

 

 

$

1,921

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares exercisable at December 31, 2018

 

 

75,550

 

 

$

17.73

 

 

 

7.44

 

 

$

904

 

Schedule of Information Related to Stock Options

 

Year Ended December 31,

 

(Dollars in thousands, except per share amounts)

 

2018

 

 

2017

 

 

2016

 

Aggregate intrinsic value of options exercised

 

$

59

 

 

$

251

 

 

$

 

Cash received from option exercises

 

$

 

 

$

283

 

 

$

 

Tax benefit realized from option exercises

 

$

12

 

 

$

88

 

 

$

 

Weighted average fair value of options granted

 

$

13.22

 

 

$

8.71

 

 

$

5.85

 

Fair Value of Stock Options Granted Weighted-Average Assumptions

The fair value of the stock options granted was determined using the following weighted average assumptions:

 

 

2018

 

 

2017

 

 

2016

 

Risk-free interest rate

 

 

2.85

%

 

 

2.11

%

 

 

1.49

%

Expected term

 

6.25 years

 

 

6.25 Years

 

 

6.25 Years

 

Expected stock price volatility

 

 

28.07

%

 

 

29.70

%

 

 

34.96

%

Dividend yield