Here is my bit of trivial education. The Oscar statue figure is standing on a film reel if you ever get to see one in person. From the horizontal view it just looks like a circular stand which is how it is most often seen.
In further pursuit of knowledge I went to the official Academy website and found this description.
Design: A knight holding a crusader’s sword, standing on a reel of film. The film reel features five spokes, signifying the five original branches of the Academy (actors, directors, producers, technicians and writers).
A Crusder’s sword? I wonder if a certain group are offended?