The Harvard Book Award is an award given out by the alumni of Harvard University to the top-performing student(s) in 11th/12th grade reading classes in 1,900 "selected" high schools. The award has been in existence since 1910.
The award is traditionally handed out at graduation ceremonies. Criteria for selection vary by school, and it is usually associated with unmistakable academic excellence and strength of character.
References
Harvard Book Award Wikipedia(Text) CC BY-SA