The term 'SITCOM AWARD' can be solved by the four-letter word 'EMMY'. The Emmy Award is an accolade presented by the Academy of Television Arts & Sciences in recognition of excellence in American primetime television programming. It is one of the most prestigious awards in the television industry and is often referred to as the 'television equivalent' of the Academy Awards (Oscars). The award is presented annually at a star-studded ceremony in Los Angeles, California.