I have the same event log entries:
Wireless security failed.
Network Adapter: Intel(R) Dual Band Wireless-AC 7260
Interface GUID: {0f1f317d-e077-4d6e-bc72-dbe6b1ba3ebf}
Local MAC Address: 80:86:F2:E2:76:1F
Network SSID: DDWRT5G
BSS Type: Infrastructure
Peer MAC Address: 40:16:7E:2B:2E:E4
Reason: Dynamic key exchange did not succeed within configured time
Error: 0x0
Seems like some kind of race condition. It happens with other Wifi routers I use too.
-J