--- For instance, in a 40-page patent and trade-secret licensing contract, the company might request confidential treatment only for the name of the other contracting party (if not already publicly known or previously disclosed), the term of the agreement, the exact technology covered and the pricing information (e.g., the royalty rate and any other fees). For each item requested to be kept confidential, the company must show that it has sought to keep the information confidential, that disclosure of the information would cause substantial harm to the company's competitive position and that this harm outweighs the need of investors to know the information.
Also read this document for SEC rules about disclosure. In my opinion, it does mean that they have to disclose it if it is influencing the stock but I am not a lawyer so be it.
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