Summary of REPLIGEN CORP - Yahoo! Finance

Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 24, 2009, Glenn L. Cooper, M.D. was elected to the Board of Directors (the "Board") of Repligen Corporation (the "Company"). Dr. Cooper is currently retired.

Dr. Cooper will receive the customary compensation paid to the Company's non-employee directors. Each non-employee director receives $6,250 per quarter and $1,500 plus expenses for each Board meeting they attend. Under the 2001 Repligen Corporation Stock Plan, each newly-elected, non-employee director who joins the Board is entitled to receive an option to purchase 24,000 shares of Common Stock on the date he or she joins the Board (an "Initial Board Option"). These Initial Board Options vest equally over a three-year period from the date of grant. In addition, each non-employee director is granted an option to purchase 20,000 shares of Common Stock (the "Annual Board Options" and together with the Initial Board Option, the "Board Options") at the time of each annual stockholder meeting. These options vest in full on the first anniversary of the date of the grant, provided such person is still a director on such anniversary. Board Options have a term of ten years, subject to early termination in the event of death, removal or resignation from the Board. All of these stock options will have an exercise price equal to the fair market value of the stock on the date the stock option is granted.

There are no arrangements or understandings between Dr. Cooper and any other persons pursuant to which Dr. Cooper was selected as a director. There have been no transactions since the beginning of the Company's last fiscal year, or any currently proposed transaction, in which the Company was or is to be a participant, in which the amount involved exceeds $120,000, and in which Dr. Cooper had, or will have, a direct or indirect material interest.

The Company has issued a press release announcing Dr. Cooper's election to the Board and has attached a copy of such press release as Exhibit 99.1 hereto.