The forward direction is trivially proven.
For the converse, suppose towards contradiction that 𝑋 is not compact but every subbasic open cover from S has a finite subcover.
Let 𝑃 denote the set of all open covers of 𝑋 lacking a finite subcover partially ordered by inclusion.
By Zorn's lemma, 𝑃 has a maximal element C, which itself is an open cover of 𝑋 admitting no finite subcover,
By maximality, if 𝑉 is an open set such that 𝑉 ∉C then C ∪{𝑉} has a finite subcover {𝑉} ∪C𝑉 for some finite C𝑉 ⊆C.
Now clearly C ∩S does not cover 𝑋, for if it did it would have a finite subcover.
Thus there exists some 𝑥 ∈𝑋 not covered by C ∩S.
But since C does cover 𝑋, there exists some 𝑈 ∈C with 𝑥 ∈𝑈.
Since S is a subbasis, there must exist some finite collection {𝑆𝑖}𝑛𝑖=1 ⊆S of subbasic open sets such that 𝑥 ∈⋂𝑛𝑖=1𝑆𝑖 ⊆𝑈.
Now {𝑆𝑖}𝑛𝑖=1 ⊈C, for otherwise C ∩S would cover 𝑥.
Defining C𝑆𝑖 as above and ˜C =⋂𝑛𝑖=1C𝑆𝑖, it follows {𝑆𝑖} ∪˜C is a finite subcover of {𝑆𝑖} ∪C for any 𝑖 ∈ℕ𝑛.
Let 𝑌 =⋃˜C and 𝑍 =𝑋 ∖𝑌.
Now for any 𝐴 ⊆𝑋, {𝐴} ∪˜C covers 𝑋 iff 𝑍 ⊆𝐴,
whence 𝑍 ⊆𝑆𝑖 for each 𝑖 ∈ℕ𝑛 and thus 𝑍 ⊆⋂𝑛𝑖=1𝑆𝑖 ⊆𝑈 ∈C,
implying {𝑈} ∪˜C is a finite subcover of C,
contradicting C ∈𝑃.
Therefore 𝑋 must be compact.