It is named in honor of William M. Jennings, the longtime governor and president of the New York Rangers.

The William M. Jennings Trophy was created as a replacement and is awarded to the starting goaltender(s) playing for the team with the fewest goals against.

It is named in honor of the late William M. Jennings, who was a longtime governor and president of the New York Rangers and a builder of ice hockey in the United States.

[4] Ten players have won both the Jennings and Vezina Trophy for the same season: Patrick Roy (1988–89 and 1991–92), Ed Belfour (1990–91 and 1992–93), Dominik Hasek (1993–94 and 2000–01), Martin Brodeur (2002–03, 2003–04), Miikka Kiprusoff (2005–06), Tim Thomas (2008–09), Carey Price (2014–15), Marc-Andre Fleury (2020–21), Linus Ullmark (2022–23), and Connor Hellebuyck (2023–24).

The Montreal Canadiens have the most wins, with six, followed by the New Jersey Devils and the Chicago Blackhawks with five each, the Boston Bruins with four, and the Buffalo Sabres and with three.