Apparently he was discharged from REGULAR Army, got no ribbon, but did continue in the Reserves. And he became Police Chief in Warm Springs, Florida.
http://www.time.com/time/magazine/article/0,9171,923996-5,00.html
"The militants did put one hostage in front of a TV camera to make a bizarre, prolonged "confession." Army Staff Sergeant Joseph Subic Jr. thanked the militants for being "more our servants than our captors... They give us magazines, cards and good food. They even do our washing." Then he accused the U.S. embassy of engaging in espionage. He also claimed that an officer had discussed a military coup against the Khomeini regime with a CIA man and some Iranian officers. U.S. officials in Washington dismissed Subic's charges."