The former head of Reston-based government services firm STG Group Inc. took home a $645,220 pay package in 2016 — the year of his departure.
Paul Fernandes, who retired as president of STG in September 2016, had a pay package comprised of a $636,604 salary and $8,616 in other compensation — which is undefined in materials filed with the Securities and Exchange Commission on Monday.
Fernandes took home severance pay worth $601,128 that is to be payable over the 12 months following his departure. Fernandes will also provide consulting services to the company for 18 months after stepping down.
Also in September 2016, STG hired a new president to lead the company, Phillip Lacombe. His pay package for 2016 totaled $605,358. That was made up of a $119,871 base salary, $483,237 in option awards and $2,250 in other compensation. Filings indicate that under his contract with STG, LaCombe will get an annual salary of $450,000 and is eligible for a yearly bonus up to the size of that salary.
STG…Read the full story from the Washington Business Journal.
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