The Civil Service Reform Act of 1978 established the Presidential Rank Awards Program to recognize a select group of career members of the Senior Executive Service (SES) for exceptional performance over an extended period of time. Later, the Rank Award statute was amended to extend eligibility to senior career employees with a sustained record of exceptional professional, technical, and/or scientific achievement recognized on a national or international level.
The Presidential Rank Award honors high-performing senior career employees for "sustained extraordinary accomplishment."
https://www.opm.gov/policy-data-oversight/senior-executive-service/pres…