Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

(a) On October 14, 2022, Rubicon Technology, Inc. (the "Company") received notifications from Nasdaq that it was no longer in compliance with various Nasdaq independent director requirements set forth in Listing Rule 5605. This rule requires, among other things, that the Company's (i) Board of Directors be composed of a majority of independent directors, (ii) Audit Committee be composed of three independent directors, and (iii) Compensation Committee be composed of two independent directors. The Company's Board of Directors is composed of four directors, one of which is an employee of the Company and therefore is not independent. The Board has not yet determined whether the two directors appointed by Janel Corporation are deemed to be independent under the NASDAQ Listing Rules.

The Nasdaq notification has no immediate effect on the listing of the Company's common stock.

With respect to Company's (i) Board of Directors be composed of a majority of independent directors and (ii) Audit Committee be composed of three independent directors, under NASDAQ rules, the Company has 45 calendar days to submit a plan to regain compliance. If the plan is accepted, NASDAQ can grant an extension of up to 180 calendar days from October 14, 2022, to evidence compliance.

With respect to the Company's Compensation Committee non-compliance, Nasdaq provides the Company a cure period in order to regain compliance as follows:

? until the earlier of the Company's next annual shareholders' meeting or August


  19, 2023; or

? if the next annual shareholders' meeting is held before December 31, 2022, then

the Company must evidence compliance no later than December 31, 2022.






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