cursor: pin S wait on X in 11g
Why does a wait event that occurred 5 times accounts for 1.1% of your database wait time concern you as a potential threat?  Is there some additional information that leads you to believe that this is a threat?  Obviously, something has to be in your top 5 wait events.  Is this event consistently one of the top wait events?  Or did it just appear on one AWR?

The particular wait generally occurs when one session is trying to pin a cursor while another session is parsing it.  Potentially, some of the 95% of the CPU related wait events could be the result of parsing (though you'd want to look at the number of hard parses elsewhere in the AWR).  If you have an OLTP system, you should really only be doing any quantity of hard parses immediately after a reboot-- everything else should be using prepared statements and, at most, doing a soft parse.  If you've got dynamic SQL somewhere in the system, removing that may help though it may also be a rather drastic step to save a few seconds.