“Information is material if "there is a substantial likelihood that a reasonable shareholder would consider it important" in making an investment decision.38 To fulfill the materiality requirement, there must be a substantial likelihood that a fact "would have been viewed by the reasonable investor as having significantly altered the 'total mix' of information made available."39 “

( https://www.sec.gov/rules/final/33-7881.htm )

I would say the NBA is material.

And would have liked it if they used the old fashioned way too, to make its content public knowledge.