Commemorate (verb)

1. To honor the memory of a person or an event, usually with a ceremony.
2. To mark an event or a person with a monument or a plaque.

Origin:

Late 16th century: from latin commemorat- "remembered", from the verb commemorare, from com- "together with" + memorare "remember".

Examples:

1. The nation commemorated the fallen soldiers on Memorial Day.
2. The city commemorated the founding of the city with a parade.
3. The family commemorated the anniversary of the loved one's death.
4. The school commemorated the achievements of the alumni with a plaque.
5. The organization commemorated the contributions of the members with a ceremony.