This is the 12042nd most frequent Russian word.
значима
"Significant" or "meaningful."
The word 'значима' is used to denote 'significance' or 'importance' in a broad societal context.
Значимость этого события для общества была очевидна.
The significance of this event for society was evident.
Here, 'значима' emphasizes the personal and emotional importance of the award.
Для неё эта награда была личной и крайне значимой.
For her, this award was personal and extremely significant.
In this sentence, 'значим' relates to the practical importance or utility of the document.