• 賞金しょうきん — prize money
• 賞状しょうじょう — certificate of commendation
• 受賞じゅしょう — winning an award
• 賞味しょうみ — savoring, tasting
• 授賞式じゅしょうしき — award ceremony

賞 combines meanings of value (貝 = shell/money) and merit. Originally used in contexts of praise and reward, it carries connotations of recognition for achievement — whether monetary or honorary.

彼かれは 優秀ゆうしゅうな 成績せいせきで 賞しょうを 受うけました。
He received an award for his excellent performance.

賞味しょうみ期限きげんを 確認かくにんしてください。
Please check the expiration date (best-before).

The reading ショウ (shou) is very common and used in nearly all compound words. No widely used kun-yomi exists.