Joseph D. Mansueto - May 15, 2024 Form 4 Insider Report for Morningstar, Inc. (MORN)

Signature
/s/ Kathleen Peacock, by power of attorney
Stock symbol
MORN
Transactions as of
May 15, 2024
Transactions value $
-$3,268,820
Form type
4
Date filed
5/17/2024, 08:24 PM
Previous filing
May 15, 2024
Next filing
May 21, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MORN Common Stock Sale -$5.05K -17 0% $297.25 10.7M May 15, 2024 Direct F1
transaction MORN Common Stock Sale -$56.2K -188 0% $298.76 10.7M May 15, 2024 Direct F1, F2
transaction MORN Common Stock Sale -$79.1K -264 0% $299.80 10.7M May 15, 2024 Direct F1, F3
transaction MORN Common Stock Sale -$887K -2.95K -0.03% $301.03 10.7M May 15, 2024 Direct F1, F4
transaction MORN Common Stock Sale -$419K -1.39K -0.01% $301.87 10.7M May 15, 2024 Direct F1, F5
transaction MORN Common Stock Sale -$1.03M -3.42K -0.03% $300.26 10.7M May 16, 2024 Direct F1, F6
transaction MORN Common Stock Sale -$757K -2.51K -0.02% $301.04 10.7M May 16, 2024 Direct F1, F7
transaction MORN Common Stock Sale -$39.2K -130 0% $301.70 10.7M May 16, 2024 Direct F1
holding MORN Common Stock 4.75M May 15, 2024 By Trust F8
holding MORN Common Stock 150K May 15, 2024 By Trust F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 17, 2023.
F2 The transaction was executed in multiple trades at prices ranging from $298.3650 to $299.1750. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
F3 The transaction was executed in multiple trades at prices ranging from $299.4200 to $300.1100. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
F4 The transaction was executed in multiple trades at prices ranging from $300.5700 to $301.4700. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
F5 The transaction was executed in multiple trades at prices ranging from $301.6000 to $302.4400. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
F6 The transaction was executed in multiple trades at prices ranging from $299.6400 to $300.6300. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
F7 The transaction was executed in multiple trades at prices ranging from $300.6400 to $301.5200. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
F8 The shares are held in grantor retained annuity trusts for the benefit of the reporting person and his children. The reporting person serves as trustee of the grantor retained annuity trusts.
F9 The shares are held in trusts for the benefit of the reporting person's children. The reporting person's spouse is trustee of the trusts.