Very detailed background:
Calendar entries can have different availability options to mark a calendar entry as "free" or "busy". A normal calendar entry for a meeting would be marked as "busy" and is the default. You can also have an entry marked as "free" when you want more of a reminder of a meeting that you might not attend. This concept exists in both Google Calendar and Microsoft Exchange/Outlook. Google Calendar shows this setting as "Show me as" with options Available and Busy and Exchange shows this setting as "Status" with options Busy, Free, Tentative, or Out of Office.
In the past, if I had a calendar entry in which I marked it as "Free" this profile did not fire. Now that I have moved to Samsung based Lollipop, that no longer works. It works fine for entries that are marked as "Busy" but it should not be true for entries that are marked "Free".
tldr: the status field (4 options) of exchange calendars are ignored.
Original google groups topic: