Morningstar holder plans sale of 1,000 shares

Morningstar, Inc. shareholder William M. Lyons has filed a notice to sell up to 1,000 Class A common shares of Morningstar through broker Charles Schwab on NASDAQ.

Rhea-AI Filing Summary

Morningstar, Inc. shareholder William M. Lyons has filed a notice to sell up to 1,000 Class A common shares of Morningstar through broker Charles Schwab on NASDAQ. The shares have an indicated aggregate value of $199,000, with 37,513,571 Morningstar shares outstanding as of August 3, 2026.

In the past three months, Lyons sold 700 shares for $125,300. The notice also lists prior equity compensation events from restricted stock lapses of 972 shares on May 15, 2018, and 28 shares on May 15, 2025.

Key Figures

Planned shares to be sold: 1,000 shares Aggregate value of planned sale: $199,000.00 Shares outstanding: 37,513,571 shares +4 more

7 metrics

Planned shares to be sold 1,000 shares Class A common shares proposed for sale under Rule 144

Aggregate value of planned sale $199,000.00 Indicated aggregate market value of the 1,000 shares

Shares outstanding 37,513,571 shares Morningstar shares outstanding as of 08/03/2026

Recent shares sold 700 shares Shares sold by William M. Lyons on 05/27/2026

Proceeds from recent sale $125,300.00 Value of 700 shares sold on 05/27/2026

Restricted stock lapse 2018 972 shares Equity compensation restricted stock lapse on 05/15/2018

Restricted stock lapse 2025 28 shares Equity compensation restricted stock lapse on 05/15/2025

Key Terms

Rule 144, restricted stock lapse, Equity Compensation, Class A common shares

4 terms

Rule 144 regulatory

"plans to sell up to 1,000 Class A common shares under Rule 144"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

restricted stock lapse financial

"lists prior equity compensation events from restricted stock lapse of 972 shares"

Equity Compensation financial

"05/15/2025 | Equity Compensation"

Equity compensation is pay given to employees, executives or contractors in the form of company ownership—such as stock, stock options or restricted shares—rather than just cash. It matters to investors because it can align workers' incentives with shareholders (like paying someone in slices of the same pie they help grow), but it also increases the number of shares outstanding and company expenses, affecting ownership percentages and earnings per share.

Class A common shares financial

"sell up to 1,000 Class A common shares of Morningstar"

A Class A common share is a specific type of ordinary company share that represents an ownership stake and usually carries particular voting rights or payout priorities compared with other share classes. For investors it matters because those differences affect how much influence you have over company decisions, how dividends or liquidation proceeds might be distributed, and how easily the shares trade — like choosing between car models where one has extra features (more control) and another focuses on price or availability (liquidity).

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Morningstar (MORN) shareholder William M. Lyons plan to sell under Rule 144?

William M. Lyons plans to sell up to 1,000 Class A common shares of Morningstar, Inc. The shares are to be sold through Charles Schwab on NASDAQ, with an indicated aggregate value of $199,000.

How many Morningstar (MORN) shares has William M. Lyons sold in the last three months?

Over the past three months, William M. Lyons has sold 700 Morningstar shares for total proceeds of $125,300. These sales are listed alongside the planned sale of an additional 1,000 shares under Rule 144.

What is the aggregate value of the Morningstar (MORN) shares William M. Lyons plans to sell?

The planned sale covers 1,000 Morningstar Class A shares with an indicated aggregate value of $199,000. This reflects the value used in the notice for the proposed Rule 144 sale on NASDAQ.

How many Morningstar (MORN) shares are outstanding according to the notice?

The notice states that 37,513,571 Morningstar shares are outstanding as of August 3, 2026. This figure provides context for the relative size of the planned 1,000-share Rule 144 sale.

What equity compensation events for Morningstar (MORN) are disclosed for William M. Lyons?

The disclosure lists restricted stock lapses of 972 shares on May 15, 2018 and 28 shares on May 15, 2025. Both events are described as Equity Compensation in Morningstar common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/03/2026 - 05:03 PM Accepted by SEC EDGAR 08/03/2026 - 05:02 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001411724
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Morningstar, Inc.
SEC File Number	000-51280
Address of Issuer	22 WEST WASHINGTON STREET CHICAGO ILLINOIS 60602
Phone	(312) 696-6000
Name of Person for Whose Account the Securities are To Be Sold	Lyons William M
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A Common Shares	Charles Schwab & Co. Inc. 3000 Schway Way Westlake TX 76262	1000	199000.00	37513571	08/03/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/15/2018	Restricted Stock Lapse	Morningstar, Inc.			972	05/15/2018	Equity Compensation
Common	05/15/2025	Restricted Stock Lapse	Morningstar, Inc.			28	05/15/2025	Equity Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
William M Lyons 22 WEST WASHINGTON STREET CHICAGO IL 60602	Morningstar, Inc.	05/27/2026	700	125300.00

144: Remarks and Signature

Remarks	Shares sold in THE WILLIAM M. LYONS REVOCABLE TRUST.
Date of Notice	08/03/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	William M Lyons TTEE
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)