The Federal Acquisition Regulation councils issued a final rule on publicly reporting contractor executive compensation and first-tier subcontract awards valued at more than $25,000. The rule took effect on Aug. 27.

For each first-tier subcontract with a value of $25,000 or more, the contractor must report the name of the subcontractor, amount of award and a description of the products or services provided. A complete list of items to be reported is in FAR 52.204-10.

The rule does not apply if the prime or sub had gross income of $300,000 or less, according to Jon Williams, partner, and Brian Wilbourn, associate, at the Piliero Mazza PLLC law firm in Washington. It also does not apply to long-term supplier agreements.

For contracts over $25,000, contractors must report the names and total compensation of their five most highly paid executives for the preceding fiscal year. This only applies if the firm received at least $25,000, and at least 80% of gross revenues, from federal sources. The provision also applies to subs, under the same conditions.

The reports are due in the annual SAM.gov filing. For more information:
http://www.gpo.gov/fdsys/pkg/FR-2012-07-26/html/2012-17724.htm