Material event
An event that a reasonable investor would consider important to investment decisions — the trigger for an 8-K.
Definition
'Material' is the legal threshold under federal securities law: information is material if there is a substantial likelihood a reasonable investor would consider it important. Many 8-K item codes use materiality as a filing trigger: material agreements (1.01), material impairments (2.06), material cybersecurity incidents (1.05).
Materiality determinations are the registrant's call in the first instance, subject to second-guessing by the SEC, plaintiffs' lawyers, and short sellers.
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