Complex sentence: In 1975, the Flaiano Prize was created in his honour, a prestigious international prize for novelists, poets, literary critics, screenwriters, and cinematographers awarded annually in Flaiano's hometown of Pescara.
Split into simpler sentences: In 1975, the Flaiano Prize was created in his honour. Recognizing achievement in cinema, theater, creative writing, and literary criticism, the international prize is awarded annually in Flaiano's hometown of Pescara.