How to best handle "No matches found"

Hi All,
Am new to PowerShell and still learning my way about.

I am running the following snippet of code ...

$event= Get-EventLog -LogName Security -ComputerName [DCServer] -InstanceId 4740 -Newest 1 |
   Select TimeGenerated,ReplacementStrings,"Account name","Account Domain","Caller Computer Name" |
   % {
     New-Object PSObject -Property @{
      "Account name" = $_.ReplacementStrings[-7]
      "Account Domain" = $_.ReplacementStrings[5]
      "Caller Computer Name" = $_.ReplacementStrings[1]
      Date = $_.TimeGenerated
    }
   }

My question is how should I best handle this when it returns nothing?

Example:

Get-EventLog : No matches found
At line:1 char:1
+ Get-EventLog -LogName Security -ComputerName [DCServer] -InstanceId 4740  ...
+ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    + CategoryInfo          : ObjectNotFound: (:) [Get-EventLog], ArgumentException
    + FullyQualifiedErrorId : GetEventLogNoEntriesFound,Microsoft.PowerShell.Commands.GetEventLogCommand

Thanks in advance.

Cheers, Cameron