Joseph D. Mansueto - 21 May 2026 Form 4 Insider Report for Morningstar, Inc. (MORN)

Reporting relationship: Executive Chairman, Director, 10%+ Owner
Issuer ticker: MORN
Reported as of: 21 May 2026
Net transaction value: -$1,651,985
SEC form: 4
Accepted by SEC: 22 May 2026, 16:52:19 UTC
Prior SEC filing: 20 May 2026
Source filing: View source filing
Reporting owner signature: /s/ Kathleen Peacock, by power of attorney

Key filing fact

Joseph D. Mansueto filed Form 4 for Morningstar, Inc. (MORN) on 22 May 2026.

Key facts

This page summarizes Joseph D. Mansueto's Form 4 filing for Morningstar, Inc. (MORN).
9 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 22 May 2026, 16:52.

Change

Previous filing in this sequence was filed on 20 May 2026.
Current net transaction value: -$1,651,985.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001324069 Primary reporting owner

Mansueto Joseph D

Relationship: Executive Chairman, Director, 10%+ Owner
Address: 22 W. WASHINGTON, CHICAGO
Signature: /s/ Kathleen Peacock, by power of attorney
Signature date: 22 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

MORN transaction

Common Stock

Sale

Transaction value: $875,595
Shares: -5,081
Change %: -0.06%
Price: $172.33
Shares after: 8,047,931
Date: 21 May 2026
Ownership: Direct
Footnotes: F1, F2

MORN transaction

Common Stock

Sale

Transaction value: $334,512
Shares: -1,935
Change %: -0.02%
Price: $172.87
Shares after: 8,045,996
Date: 21 May 2026
Ownership: Direct
Footnotes: F1, F3

MORN transaction

Common Stock

Sale

Transaction value: $40,733
Shares: -234
Change %: -0%
Price: $174.07
Shares after: 8,045,762
Date: 21 May 2026
Ownership: Direct
Footnotes: F1, F4

MORN transaction

Common Stock

Sale

Transaction value: $55,185
Shares: -317
Change %: -0%
Price: $174.09
Shares after: 8,045,445
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F5

MORN transaction

Common Stock

Sale

Transaction value: $19,947
Shares: -114
Change %: -0%
Price: $174.98
Shares after: 8,045,331
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F6

MORN transaction

Common Stock

Sale

Transaction value: $130,640
Shares: -741
Change %: -0.01%
Price: $176.30
Shares after: 8,044,590
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F7

MORN transaction

Common Stock

Sale

Transaction value: $102,354
Shares: -578
Change %: -0.01%
Price: $177.08
Shares after: 8,044,012
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F8

MORN transaction

Common Stock

Sale

Transaction value: $52,267
Shares: -293
Change %: -0%
Price: $178.39
Shares after: 8,043,719
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F9

MORN transaction

Common Stock

Sale

Transaction value: $40,751
Shares: -227
Change %: -0%
Price: $179.52
Shares after: 8,043,492
Date: 22 May 2026
Ownership: Direct
Footnotes: F1, F10

MORN holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 6,277,675
Date: 21 May 2026
Ownership: By Trust
Footnotes: F11

MORN holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 150,000
Date: 21 May 2026
Ownership: By Trust
Footnotes: F12

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 12 footnotes

Footnote 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, 2025.

Footnote F2

The transaction was executed in multiple trades at prices ranging from $171.6700 to $172.6650. The price reported above reflects the weighted average sales 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.

Footnote F3

The transaction was executed in multiple trades at prices ranging from $172.6700 to $173.6600. The price reported above reflects the weighted average sales 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.

Footnote F4

The transaction was executed in multiple trades at prices ranging from $173.7600 to $174.9900. The price reported above reflects the weighted average sales 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.

Footnote F5

The transaction was executed in multiple trades at prices ranging from $173.4100 to $174.3750. The price reported above reflects the weighted average sales 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.

Footnote F6

The transaction was executed in multiple trades at prices ranging from $174.6500 to $175.2700. The price reported above reflects the weighted average sales 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.

Footnote F7

The transaction was executed in multiple trades at prices ranging from $175.8450 to $176.8100. The price reported above reflects the weighted average sales 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.

Footnote F8

The transaction was executed in multiple trades at prices ranging from $176.8650 to $177.6150. The price reported above reflects the weighted average sales 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.

Footnote F9

The transaction was executed in multiple trades at prices ranging from $178.0200 to $178.9700. The price reported above reflects the weighted average sales 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.

Footnote F10

The transaction was executed in multiple trades at prices ranging from $179.1100 to $179.8600. The price reported above reflects the weighted average sales 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.

Footnote F11

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.

Footnote F12

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.