Faculty members recognized for excellence in teaching, advising, research, professional service, and librarianship; completing 20, 30, and 40 years of service; and retiring. Founders' Awards presented to ten students who have demonstrated exceptional ability in a particular area of study. A Pegasus Professor award may be presented. Four awards presented to HIM students for outstanding theses. Recently-graduated seniors who have completed honors theses and seniors who are in the top one percent academically within each college are recognized. A reception follows the convocation. This event is open to the university community, and guests are welcome.