Recurring events with a yearly or custom dates seems to be hilariously buggy. Today, I went into an event and clicked "Event Repeating", chose "Yearly" and the result is my events calendar shows ONLY this event (we have 17 others) as occurring every day of the year. Yes, it is on YEARLY and not DAILY. I even tried changing this to "Custom Dates" and entered next year's date, which results in the event appearing 3 times in a row in the month it occurs. This bug is repeatable and can be reproduced with any of our events.
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Thank you for your report and your explanation, I would forward it to the developer team to check and fix the issue on next updates.