Joseph D. Mansueto - Jul 6, 2021 Form 4 Insider Report for Morningstar, Inc. (MORN)

Role: Executive Chairman, Director, 10%+ Owner
Signature: /s/ Patrick Maloney, by power of attorney
Stock symbol: MORN
Transactions as of: Jul 6, 2021
Transactions value $: -$4,681,777
Form type: 4
Date filed: 7/8/2021, 11:30 AM
Previous filing: Jul 6, 2021
Next filing: Jul 13, 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MORN	Common Stock	Sale	-$2.08M	-8.09K	-0.04%	$256.96	18.4M	Jul 6, 2021	Direct	F1, F2
transaction	MORN	Common Stock	Sale	-$223K	-864	0%	$258.13	18.4M	Jul 6, 2021	Direct	F1, F3
transaction	MORN	Common Stock	Sale	-$51.8K	-200	0%	$258.95	18.4M	Jul 6, 2021	Direct	F1, F4
transaction	MORN	Common Stock	Sale	-$190K	-740	0%	$256.51	18.4M	Jul 7, 2021	Direct	F1, F5
transaction	MORN	Common Stock	Sale	-$468K	-1.82K	-0.01%	$257.39	18.4M	Jul 7, 2021	Direct	F1, F6
transaction	MORN	Common Stock	Sale	-$1.4M	-5.42K	-0.03%	$258.58	18.4M	Jul 7, 2021	Direct	F1, F7
transaction	MORN	Common Stock	Sale	-$267K	-1.03K	-0.01%	$259.29	18.4M	Jul 7, 2021	Direct	F1, F8
holding	MORN	Common Stock						150K	Jul 6, 2021	ByTrust	F9

Showing 1 to 8 of 8 entries

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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 19, 2020.
F2	The transaction was executed in multiple trades at prices ranging from $256.71 to $257.66. 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 $257.75 to $258.6450. 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 $258.7550 to $259.42. 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 $255.98 to $256.86. 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 $257.00 to $257.98. 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 $258.00 to $258.9950. 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 transaction was executed in multiple trades at prices ranging from $259.00 to $259.84. 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.
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.