William M. Lyons - May 15, 2025 Form 4 Insider Report for Morningstar, Inc. (MORN)

Role
Director
Signature
/s/ Kathleen Peacock, by power of attorney
Stock symbol
MORN
Transactions as of
May 15, 2025
Transactions value $
$0
Form type
4
Date filed
5/19/2025, 08:31 PM
Previous filing
Oct 30, 2024

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Lyons William M Director 22 WEST WASHINGTON ST, CHICAGO /s/ Kathleen Peacock, by power of attorney 2025-05-19 0001411724

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MORN Common Stock (Restricted Stock Units) Award $0 +620 +4.83% $0.00 13.5K May 15, 2025 Direct F1
* 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 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.