Michael Holt - 15 May 2025 Form 4 Insider Report for Morningstar, Inc. (MORN)

Role
Chief Financial Officer
Signature
/s/Kathleen Peacock, by power of attorney
Issuer symbol
MORN
Transactions as of
15 May 2025
Net transactions value
-$155,350
Form type
4
Filing time
19 May 2025, 20:40:02 UTC
Previous filing
13 May 2025
Next filing
02 Sep 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Holt Michael Chief Financial Officer 22 WEST WASHINGTON STREET, CHICAGO /s/Kathleen Peacock, by power of attorney 19 May 2025 0002050530

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MORN Common Stock (Restricted Stock Units) Award $0 +897 +20% $0.000000 5,472 15 May 2025 Direct F1
transaction MORN Common Stock Options Exercise $0 +586 +11% $0.000000 6,058 16 May 2025 Direct F2
transaction MORN Common Stock Tax liability $155,350 -507 -8.4% $306.41 5,551 16 May 2025 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MORN Market Stock Units Options Exercise -586 -100% 0 16 May 2025 Common Stock 586 Direct F2
transaction MORN Market Stock Units Award $0 +1,346 $0.000000 1,346 15 May 2025 Common Stock 1,346 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Morningstar, Inc. common stock. The restricted stock units vest in three equal annual installments beginning May 15, 2026.
F2 Represents common stock earned from the vesting of a market stock unit grant on May 15, 2022.
F3 The market stock units earned will be based on the company's cumulative total shareholder return for the three year performance period ending May 14, 2028.