The PEN/Faulkner Award for Fiction is awarded annually by the PEN/Faulkner Foundation to the authors of the year's best works of fiction by living Americans, Green Card holders or permanent residents.
[1][2] The winner receives US$15,000 and each of four runners-up receives US$5000.
Judges read citations for each of the finalists' works at the presentation ceremony in Washington, D.C..
The organization claims it to be "the largest peer-juried award in the country.
[3] Mary Lee Settle was one of the founders of the PEN/Faulkner Award following the controversy at the 1979 National Book Award, when PEN America voted for a boycott on the grounds that the award had become too commercial.