STOCK TITAN
  1. Home
  2. Sec-filings
  3. MORN
  4. [Form 4] Morningstar, Inc. Insider Trading Activity

[Form 4] Morningstar, Inc. Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Very Negative)
Form Type
4
Rhea-AI Filing Summary

Joseph D. Mansueto, Executive Chairman, Director and a >10% owner of Morningstar (MORN) reported multiple sales of common stock on 08/07/2025, 08/08/2025 and 08/11/2025 executed pursuant to a Rule 10b5-1 trading plan adopted on November 15, 2024. The Form 4 shows dispositions totaling 21,082 shares sold at weighted-average prices that, across the transactions, ranged approximately from $258.15 to $263.615. After the reported trades the reporting person directly beneficially owns 9,380,425 shares. The filing also discloses indirect trust holdings of 5,336,106 and 150,000 shares and states the filer will provide detailed trade-by-trade information on request.

Joseph D. Mansueto, Presidente Esecutivo, Direttore e titolare di oltre il >10% di Morningstar (MORN) ha comunicato più vendite di azioni ordinarie in data 08/07/2025, 08/08/2025 e 08/11/2025, eseguite ai sensi di un piano di negoziazione previsto dalla Regola 10b5-1 adottato il November 15, 2024. Il Modulo 4 riporta dismissioni per un totale di 21,082 shares vendute a prezzi medi ponderati che, complessivamente, sono variati approssimativamente da $258.15 a $263.615. Dopo le operazioni dichiarate, la persona che effettua la comunicazione detiene direttamente beneficiariamente 9,380,425 shares. La segnalazione indica inoltre partecipazioni indirette tramite trust di 5,336,106 e 150,000 shares e specifica che il dichiarante fornirà, su richiesta, i dettagli delle singole operazioni.

Joseph D. Mansueto, Presidente Ejecutivo, Director y propietario de más del >10% de Morningstar (MORN), informó varias ventas de acciones ordinarias el 08/07/2025, 08/08/2025 y 08/11/2025, ejecutadas conforme a un plan de negociación según la Regla 10b5-1 adoptado el November 15, 2024. El Formulario 4 muestra disposiciones por un total de 21,082 shares vendidas a precios promedio ponderados que, en conjunto, oscilaron aproximadamente entre $258.15 y $263.615. Tras las operaciones notificadas, la persona informante posee directamente, a título beneficiario, 9,380,425 shares. La presentación también revela participaciones indirectas en fideicomisos de 5,336,106 y 150,000 shares y señala que el declarante proporcionará información detallada, operación por operación, si se solicita.

Joseph D. Mansueto는 모닝스타(MORN)의 Executive Chairman 겸 이사이자 >10% 지분 보유자로서, 08/07/2025, 08/08/2025, 08/11/2025에 보통주 여러 건을 매도했다고 보고했으며, 이는 November 15, 2024에 채택된 규칙 10b5-1에 따른 거래 계획에 따라 실행되었습니다. Form 4는 총 21,082 shares의 처분을 보고하고 있으며, 거래별 가중평균 가격은 대체로 $258.15에서 $263.615 범위에 있었습니다. 보고된 거래 이후 해당 보고자는 직접적으로 수익적으로 9,380,425 shares를 보유하고 있습니다. 제출 서류는 또한 5,336,106과 150,000 shares의 간접 신탁 보유를 공개하며, 신고인은 요청 시 거래별 상세 정보를 제공하겠다고 명시했습니다.

Joseph D. Mansueto, président exécutif, administrateur et détenteur de plus de >10% de Morningstar (MORN), a déclaré plusieurs ventes d'actions ordinaires les 08/07/2025, 08/08/2025 et 08/11/2025, exécutées en vertu d'un plan de négociation Rule 10b5-1 adopté le November 15, 2024. Le formulaire 4 indique des cessions totalisant 21,082 shares vendues à des prix moyens pondérés qui, selon les transactions, variaient approximativement de $258.15 à $263.615. Après les opérations signalées, la personne déclarante détient directement à titre bénéficiaire 9,380,425 shares. Le dépôt révèle également des avoirs indirects en fiducie de 5,336,106 et 150,000 shares et précise que le déclarant fournira, sur demande, des informations détaillées pour chaque transaction.

Joseph D. Mansueto, Executive Chairman, Direktor und Anteilseigner mit >10% von Morningstar (MORN), meldete mehrere Verkäufe von Stammaktien am 08/07/2025, 08/08/2025 und 08/11/2025, ausgeführt im Rahmen eines Handelsplans gemäß Rule 10b5-1, der am November 15, 2024 angenommen wurde. Das Formular 4 weist Verfügungen über insgesamt 21,082 shares aus, die zu gewichteten Durchschnittspreisen verkauft wurden, die sich über die Transaktionen hinweg ungefähr von $258.15 bis $263.615 erstreckten. Nach den gemeldeten Transaktionen besitzt die meldende Person direkt wirtschaftlich 9,380,425 shares. Die Einreichung offenbart außerdem indirekte Treuhandbestände von 5,336,106 und 150,000 shares und erklärt, dass der Einreicher auf Anfrage detaillierte Angaben zu den einzelnen Trades zur Verfügung stellt.

Positive
  • Sales executed under a Rule 10b5-1 trading plan (adopted November 15, 2024), indicating pre-established execution parameters.
  • Transparent disclosure of weighted-average prices and willingness to provide trade-level details upon request.
  • Large remaining direct ownership: reporting person holds 9,380,425 shares directly after the reported transactions.
Negative
  • Reported disposals total 21,082 shares across three trading dates (08/07/2025, 08/08/2025, 08/11/2025).
  • Multiple sales over consecutive days are disclosed, which some market participants may note when evaluating insider activity.

Insights

TL;DR: Insider sold 21,082 shares under a 10b5-1 plan; direct holdings remain large at 9.38M shares.

The filing documents routine sales by Joseph Mansueto executed under a Rule 10b5-1 plan adopted November 15, 2024. The reported disposals total 21,082 shares across three trading dates with weighted-average prices spanning roughly $258.15–$263.615. Post-transaction direct beneficial ownership is reported as 9,380,425 shares, and substantial indirect trust holdings are disclosed. From a securities-analyst perspective, the disclosure is clear and compliant; the absolute size of the sales is small relative to the multi-million share holdings disclosed, suggesting limited immediate impact on control or capital structure.

TL;DR: Transactions were executed under a documented 10b5-1 plan and fully disclosed; governance and compliance signals are intact.

The Form 4 shows that sales were effected pursuant to a pre-established 10b5-1 trading plan, a governance mechanism that reduces concerns about opportunistic timing. The filer commits to furnish detailed trade pricing on request, which supports transparency. The report also identifies the reporting persons roles (Executive Chairman, Director, 10% owner) and trust-held shares, clarifying direct and indirect ownership. Overall, the filing meets disclosure expectations and does not present material governance anomalies based on the reported facts.

Joseph D. Mansueto, Presidente Esecutivo, Direttore e titolare di oltre il >10% di Morningstar (MORN) ha comunicato più vendite di azioni ordinarie in data 08/07/2025, 08/08/2025 e 08/11/2025, eseguite ai sensi di un piano di negoziazione previsto dalla Regola 10b5-1 adottato il November 15, 2024. Il Modulo 4 riporta dismissioni per un totale di 21,082 shares vendute a prezzi medi ponderati che, complessivamente, sono variati approssimativamente da $258.15 a $263.615. Dopo le operazioni dichiarate, la persona che effettua la comunicazione detiene direttamente beneficiariamente 9,380,425 shares. La segnalazione indica inoltre partecipazioni indirette tramite trust di 5,336,106 e 150,000 shares e specifica che il dichiarante fornirà, su richiesta, i dettagli delle singole operazioni.

Joseph D. Mansueto, Presidente Ejecutivo, Director y propietario de más del >10% de Morningstar (MORN), informó varias ventas de acciones ordinarias el 08/07/2025, 08/08/2025 y 08/11/2025, ejecutadas conforme a un plan de negociación según la Regla 10b5-1 adoptado el November 15, 2024. El Formulario 4 muestra disposiciones por un total de 21,082 shares vendidas a precios promedio ponderados que, en conjunto, oscilaron aproximadamente entre $258.15 y $263.615. Tras las operaciones notificadas, la persona informante posee directamente, a título beneficiario, 9,380,425 shares. La presentación también revela participaciones indirectas en fideicomisos de 5,336,106 y 150,000 shares y señala que el declarante proporcionará información detallada, operación por operación, si se solicita.

Joseph D. Mansueto는 모닝스타(MORN)의 Executive Chairman 겸 이사이자 >10% 지분 보유자로서, 08/07/2025, 08/08/2025, 08/11/2025에 보통주 여러 건을 매도했다고 보고했으며, 이는 November 15, 2024에 채택된 규칙 10b5-1에 따른 거래 계획에 따라 실행되었습니다. Form 4는 총 21,082 shares의 처분을 보고하고 있으며, 거래별 가중평균 가격은 대체로 $258.15에서 $263.615 범위에 있었습니다. 보고된 거래 이후 해당 보고자는 직접적으로 수익적으로 9,380,425 shares를 보유하고 있습니다. 제출 서류는 또한 5,336,106과 150,000 shares의 간접 신탁 보유를 공개하며, 신고인은 요청 시 거래별 상세 정보를 제공하겠다고 명시했습니다.

Joseph D. Mansueto, président exécutif, administrateur et détenteur de plus de >10% de Morningstar (MORN), a déclaré plusieurs ventes d'actions ordinaires les 08/07/2025, 08/08/2025 et 08/11/2025, exécutées en vertu d'un plan de négociation Rule 10b5-1 adopté le November 15, 2024. Le formulaire 4 indique des cessions totalisant 21,082 shares vendues à des prix moyens pondérés qui, selon les transactions, variaient approximativement de $258.15 à $263.615. Après les opérations signalées, la personne déclarante détient directement à titre bénéficiaire 9,380,425 shares. Le dépôt révèle également des avoirs indirects en fiducie de 5,336,106 et 150,000 shares et précise que le déclarant fournira, sur demande, des informations détaillées pour chaque transaction.

Joseph D. Mansueto, Executive Chairman, Direktor und Anteilseigner mit >10% von Morningstar (MORN), meldete mehrere Verkäufe von Stammaktien am 08/07/2025, 08/08/2025 und 08/11/2025, ausgeführt im Rahmen eines Handelsplans gemäß Rule 10b5-1, der am November 15, 2024 angenommen wurde. Das Formular 4 weist Verfügungen über insgesamt 21,082 shares aus, die zu gewichteten Durchschnittspreisen verkauft wurden, die sich über die Transaktionen hinweg ungefähr von $258.15 bis $263.615 erstreckten. Nach den gemeldeten Transaktionen besitzt die meldende Person direkt wirtschaftlich 9,380,425 shares. Die Einreichung offenbart außerdem indirekte Treuhandbestände von 5,336,106 und 150,000 shares und erklärt, dass der Einreicher auf Anfrage detaillierte Angaben zu den einzelnen Trades zur Verfügung stellt.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
 Check this box to indicate that a 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). See Instruction 10.
1. Name and Address of Reporting Person*
Mansueto Joseph D
(Last) (First) (Middle)
22 W. WASHINGTON
(Street)
CHICAGO IL 60602
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Morningstar, Inc. [ MORN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
Executive Chairman
3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/07/2025 S(1) 3,934 D $260.6561(2) 9,397,573 D
Common Stock 08/07/2025 S(1) 2,284 D $261.4025(3) 9,395,289 D
Common Stock 08/07/2025 S(1) 506 D $262.3458(4) 9,394,783 D
Common Stock 08/07/2025 S(1) 526 D $263.3741(5) 9,394,257 D
Common Stock 08/08/2025 S(1) 601 D $259.6949(6) 9,393,656 D
Common Stock 08/08/2025 S(1) 3,104 D $260.8461(7) 9,390,552 D
Common Stock 08/08/2025 S(1) 1,857 D $261.7537(8) 9,388,695 D
Common Stock 08/08/2025 S(1) 1,506 D $262.5156(9) 9,387,189 D
Common Stock 08/11/2025 S(1) 98 D $258.6063(10) 9,387,091 D
Common Stock 08/11/2025 S(1) 3,509 D $259.8434(11) 9,383,582 D
Common Stock 08/11/2025 S(1) 2,936 D $260.7656(12) 9,380,646 D
Common Stock 08/11/2025 S(1) 221 D $261.6386(13) 9,380,425 D
Common Stock 5,336,106 I By Trust(14)
Common Stock 150,000 I By Trust(15)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 15, 2024.
2. The transaction was executed in multiple trades at prices ranging from $259.9900 to $260.9850. 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.
3. The transaction was executed in multiple trades at prices ranging from $260.9900 to $261.9300. 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.
4. The transaction was executed in multiple trades at prices ranging from $262.0100 to $263.0000. 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.
5. The transaction was executed in multiple trades at prices ranging from $263.0700 to $263.6150. 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.
6. The transaction was executed in multiple trades at prices ranging from $259.1100 to $260.0650. 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.
7. The transaction was executed in multiple trades at prices ranging from $260.2450 to $261.1550. 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.
8. The transaction was executed in multiple trades at prices ranging from $261.3000 to $262.2575. 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.
9. The transaction was executed in multiple trades at prices ranging from $262.3000 to $263.1300. 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.
10. The transaction was executed in multiple trades at prices ranging from $258.1500 to $258.9200. 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.
11. The transaction was executed in multiple trades at prices ranging from $259.3100 to $260.3000. 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.
12. The transaction was executed in multiple trades at prices ranging from $260.3100 to $261.3000. 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.
13. The transaction was executed in multiple trades at prices ranging from $261.4900 to $261.7200. 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.
14. 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.
15. 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.
Remarks:
/s/ Kathleen Peacock, by power of attorney 08/11/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What did Joseph Mansueto (MORN) report on the Form 4?

The Form 4 reports that Joseph D. Mansueto sold a total of 21,082 shares of Morningstar common stock on 08/07/2025, 08/08/2025 and 08/11/2025 pursuant to a 10b5-1 trading plan.

How many shares does Mansueto beneficially own after these transactions (MORN)?

Following the reported transactions the filing shows 9,380,425 shares directly beneficially owned. The filing also discloses indirect trust holdings of 5,336,106 and 150,000 shares.

At what prices were the MORN shares sold?

The Form 4 reports weighted-average prices by transaction and explanatory ranges; across the trades prices ranged roughly from $258.15 to $263.615.

Were the sales part of an automated plan (MORN)?

Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted on November 15, 2024.

Will more detailed trade information be available?

The reporting person commits to provide, upon request to the SEC staff, Morningstar or a shareholder, full information regarding the number of shares and prices at which the transactions were effected.
Stock MORN logo
Morningstar

NASDAQ:MORN

MORN Rankings

#850 Ranked by Market Cap
#2149 Ranked by Dividends

MORN Latest News

Jul 30, 2025
Morningstar, Inc. Reports Second-Quarter 2025 Financial Results
Jul 8, 2025
Morningstar Announces Winners for the 2025 U.S. Morningstar Awards for Investing Excellence
Jun 30, 2025
Morningstar, Inc. to Announce Second-Quarter 2025 Financial Results on July 30
Jun 30, 2025
Morningstar Launches New Digital Destination to Empower Canadian Investors
Jun 30, 2025
Morningstar Launches New Digital Destination to Empower UK Investors

MORN Latest SEC Filings

Aug 6, 2025
[Form 4] Morningstar, Inc. Insider Trading Activity
Aug 5, 2025
[8-K] Morningstar, Inc. Reports Material Event
Aug 4, 2025
[144] Morningstar, Inc. SEC Filing
Jul 31, 2025
[10-Q] Morningstar, Inc. Quarterly Earnings Report
Jul 30, 2025
[8-K] Morningstar, Inc. Reports Material Event

MORN Stock Data

10.92B
23.21M
44.91%
61.06%
1.48%
Financial Data & Stock Exchanges
Investment Advice
Link
United States
CHICAGO