Events are for events that need to be displayed on the calendar in the portal but that do not require registration. For instance, office closures or holidays are good examples of events that would be displayed on the portal but do not require registration.
When clicking on the event in the calendar, a description and location tab will appear, but the page will not provide any means for registration.
To create an Event, go to Meetings -> Meetings Setup -> Events and click New.
For more details on Events, including field definitions, click here.