SALUTING

To make a gesture in honor of (someone or something).

"They saluted the flag as it passed in the parade."

To act in thanks, honor, or tribute; to thank or extend gratitude; to praise.

"I would like to salute the many dedicated volunteers that make this project possible."

To wave, to acknowledge an acquaintance.

"I saluted Bill at the concert, but he didn't see me through the crowd."

The act of giving a salute.