Scott Vestal received the Steve Martin Prize for Excellence in Banjo and Bluegrass on Saturday night in a surprise ceremony at the 45th annual RockyGrass Festival in Lyons, Colo.

The award, endowed by Mr. Martin, the actor, comedian and bluegrass musician, carries a cash prize of $50,000 and a bronze sculpture created by the American artist Eric Fischl. It honors “a person or group who has given the board a fresh appreciation of this music, either through artistry, composition, innovation or preservation, and is deserving of a wider audience,” according to the prize’s mission statement. Mr. Martin congratulated Mr. Vestal in a tweet published after the ceremony.