Event Details
Operating System->Microsoft Windows->Built-in logs->Windows 2008 or higher->Security Log->110X - Non Audit (EventLog)->Event processing->EventID 1101 - Audit events have been dropped by the transport. %1.
EventID 1101 - Audit events have been dropped by the transport. %1.
This event indicates that incoming event data cannot be put to the event log for some reason. 
InsertionString1 contains the failure reason description.

Note:
Events sent to the Security log are dropped (they cannot reach the Event Log service and the Security log) when their volume exceeds system capabilities. The hardware (CPU speed and disk size) can be improved to allow the system to handle a higher volume of events, or the number of events published should be reduced. For a busy domain controller system with full auditing enabled, the system attempts to publish a large number of events into the Security log. To allow the system to handle the volume, disable some auditing.

Find more information about this event on ultimatewindowssecurity.com.
 Sample: 
        Audit events have been dropped by the transport.  %1
Log Type: Windows Event Log
 Uniquely Identified By:
Log Name: Security
Filtering Field Equals to Value
OSVersion Windows Vista (2008)
Windows 7 (2008 R2)
Windows 8 (2012)
Windows 8.1 (2012 R2)
Windows 10 (2016)
Source Microsoft-Windows-Eventlog
TaskCategory Event Processing
EventId 1101
Field Matching
FieldDescriptionStored inSample Value
DateTime Date/Time of event origination in GMT format. DateTime 10.10.2000 19:00:00
Source Name of an Application or System Service originating the event. Source Security
Type Warning, Information, Error, Success, Failure, etc. Type Success
User Domain\Account name of user/service/computer initiating event. User RESEARCH\Alebovsky
Computer Name of server workstation where event was logged. Computer DC1
EventID Numerical ID of event. Unique within one Event Source. EventId 576
Description The entire unparsed event message. Description Special privileges assigned to new logon.
Log Name The name of the event log (e.g. Application, Security, System, etc.) LogName Security
Task Category A name for a subclass of events within the same Event Source. TaskCategory
Level Warning, Information, Error, etc. Level
Keywords Audit Success, Audit Failure, Classic, Connection etc. Keywords
Category A name for an aggergative event class, corresponding to the similar ones present in Windows 2003 version. Category Account Logon
Object Name -
Whom -
Object Type -
Class Name -
Security ID -
Account Name -
Account Domain -
Reason Failure reason description InsertionString1
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