This is the 294th most frequent Serbian word.
славе
"Славе" refers to Serbian Orthodox family feast days honoring a patron saint.
Here, 'славе' is used in the sense of 'celebrate', meaning to mark an occasion with festivities or rituals.
Они славе Божић сваке године.
They celebrate Christmas every year.
In this case, 'славе' translates to 'glorify' and is used to denote the act of praising or commending someone or something in a metaphorical or symbolic sense.
Песма славе старе хероје.
The songs glorify the ancient heroes.
Here, 'славу' is directly related to the Serbian traditional feast called 'слава', celebrated in honor of a family saint patron; it indicates the feast or celebration event itself.