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

(e) On May 21, 2012 (the "Grant Date"), the Board of Directors of Rubicon Technology, Inc. (the "Company") approved a grant of options to purchase 110,000 shares of common stock of the Company to Raja Parvez, the Company's chief executive officer. Mr. Parvez's options are performance-based and vest upon the achievement of specified annual revenue and earnings targets by December 31, 2012, provided that Mr. Parvez is employed by the Company on December 31, 2012. The options have an exercise price of $10.43 and expire ten years from the Grant Date. The options are otherwise subject to the standard terms and conditions of the Rubicon Technology, Inc. 2007 Stock Incentive Plan.

On the Grant Date, the Board of Directors of the Company also approved a grant of options to purchase 55,000 shares of common stock of the Company to William F. Weissman, the Company's chief financial officer. Mr. Weismann's options are performance-based and vest upon the achievement of specified annual revenue and earnings targets by December 31, 2012, provided that Mr. Weissman is employed by the Company on December 31, 2012. The options have an exercise price of $10.43 and expire ten years from the Grant Date. The options are otherwise subject to the standard terms and conditions of the Rubicon Technology, Inc. 2007 Stock Incentive Plan.

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