A source close to the situation explained:
It's become clear just how influential and well-respected Philip Seymour Hoffman was amongst his fellow actors.
Not only did young up-and-coming actors look up to his talent, but his equally as successful coworkers were always amazed by him.
After winning the BAFTA Award for Best Actress for her role in Blue Jasmine, Cate took the moment to pay tribute to her good friend. And it was a beautiful moment - one Philip is definitely deserving of.
Ch-ch-check out her moving acceptance speech honoring the late actor (above)!