our executive officers, including our Chief Executive Officer. We engaged Frederic W. Cook & Co. (FW Cook) as our independent compensation consultant to review our executive compensation peer group and program design and assess our executives compensation relative to comparable companies.
We use base salaries to recognize the experience, skills, knowledge and responsibilities required of all our employees, including our named executive officers. None of our named executive officers is currently party to an employment agreement or other agreement or arrangement that provides for automatic or scheduled increases in base salary.
In 2017, we paid base salaries of $520,000 to Mr. Augusti, $350,097 to Mr. Weiner and $322,390 to Dr. Steines. In 2016, we paid base salaries of $69,001 to Mr. Augusti, $350,479 to Dr. Lang, $336,600 to Mr. Weiner and $299,971 to Dr. Steines. Mr. Augustis employment began on November 14, 2016 and, as a result, the amount shown in the Salary column of the Summary Compensation Table for 2016 reflects payments made to him from the period between November 14, 2016 and December 31, 2016. For 2016, Mr. Augustis annualized base salary was $520,000.
Our board of directors has, in its discretion, awarded cash bonuses and granted equity awards in the form of restricted stock or stock options as bonuses to our executive officers from time to time in the past, and may award cash bonuses and grant equity awards as bonuses to our executive officers in the future. In February 2017, our compensation committee recommended, and our board of directors approved, a 2017 employee bonus and stock incentive plan. Pursuant to this plan, in May 2017, we awarded shares of restricted common stock to our named executive officers as follows: Mr. Augusti: 95,602 shares of common stock; Mr. Weiner: 47,801 shares of common stock; and Dr. Steines: 44,814 shares of common stock with such shares vesting over a four year period, with respect to 25% of the shares on each of the next four successive anniversaries of the Vesting Start Date. In addition, we granted stock options for common stock to our named executive officers as follows: Mr. Augusti: 190,114 stock options; Mr. Weiner: 95,057 stock options; and Dr. Steines: 89,116 stock option, with such stock options vesting in equal monthly installments commencing on June 15, 2017 through May 15, 2021, subject to the employees continued service to the Company and further subject to any written employment agreement with the Company in effect as of the grant date.
Pursuant to the terms and provisions of the 2015 Plan and the Companys form of Restricted Stock Agreement under the 2015 Plan, in August 2017, we awarded additional incentive shares of restricted common stock to: Mr. Augusti: 100,000 shares; Mr. Weiner: 33,000 shares; and Dr. Steines: 20,000 shares, with such shares vesting over a four year period, with respect to 25% of the shares on each of the next four successive anniversaries of the Vesting Start Date, subject to the employees continued service to the Company and further subject to any written employment agreement with the Company in effect as of the grant date.
In December 2017, we approved discretionary bonus awards pursuant to the Companys 2017 Employee Bonus and Stock Incentive Plan (the 2017 Bonus Plan) to certain employees of the Company, including the Companys executive officers. In lieu of cash, bonuses were granted as shares of stock, in a number based on the average closing price of the Companys stock on the Nasdaq Global Select Market for the 60 calendar days preceding the grant date (the Bonus Shares). The Bonus Shares were fully vested on the grant date. The target bonus under the 2017 Bonus Plan was a percentage of an individual employees base salary, and is earned based on the achievement of individual and corporate performance objectives, including achieving revenue and gross margin performance targets determined by the Committee. Based on its evaluation of Company performance and the recommendation of the Committee, the Board awarded bonuses equivalent to 40% of the target bonuses, and approved the following grants of Bonus Shares to the Companys executive officers as follows: Mr. Augusti: 48,844 shares of common stock; Mr. Weiner: 21,923 shares of common stock; and Dr. Steines: 16,150 shares of common stock. No annual cash bonus payments were made under our 2017 cash bonus award program.
As part of our annual compensation-setting process, in February 2018, our compensation committee recommended, and our board of directors approved, an employee bonus and stock incentive plan for the 2018 calendar year, or the 2018 Bonus Plan. Under the 2018 Bonus Plan, certain employees, including our named executive officers, are eligible to earn a cash bonus and to receive awards of equity. Each of our named executive officers is eligible to receive an annual cash bonus that is based on a percentage of their annual base salary as follows: Mr. Augusti: 75%; Mr. Weiner: 50%; and Dr. Steines: 40%. The cash bonus is based a combination of financial and individual performance in 2018, including achieving revenue and gross margin performance targets based on recommendations from our compensation committee, and, subject to performance