Item 1.05 is for incidents the registrant has determined to be material. The Director of the Division of Corporation Finance (statement of 21 May 2024) encourages registrants that choose to disclose an incident not yet assessed, or assessed as immaterial, to use another item such as Item 8.01; if the incident is later determined to be material, an Item 1.05 Form 8-K is due within four business days of that determination and may refer back to the earlier filing but must itself meet Item 1.05. Staff guidance, without legal force; the four-business-day duty on the later determination is the rule's own.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.