That’s not necessarily accurate if you are already operating in probability per year in this case. It just means 7.75 occurrences per time.
You cannot have a probability P[X ≥ 1] >1.
There is no 'probability per year' (if it were meaningful year would have to be <1 for a >1 result anyway) - that time frame is built into 'X', it's 'inside' the probability.
It's been clear throughout this thread what was meant.
Probably something like reciprocal half-life; 775% / yr is about 1 / 1.5 month ie, happens about once every month and a half.
There’s still some chance it doesn’t happen in one year.