to win the inaugural award [inaugural?]

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Senior Member
This is a sentence from an article of an industry newsletter.

Earning accolades for his presentation, "***", Mr. White won the inaugural *** Young Professional Award.

What does inaugural mean here? I can think of the following possibilities after looking up a dictionary.

a. It was the first such award for Mr. White.
b. It was the first award to be presented at the beginning of that awarding ceremony, then other awards followed.
c. This award was newly created, and Mr. White was the first one ever to receive it.

Could you offer some opinions? Thanks.
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