Morningstar (MORN) CFO buys 1,000 shares in open-market trade

Rhea-AI Filing Summary

Morningstar, Inc. Chief Financial Officer Michael Holt reported an open-market purchase of company stock. On March 4, 2026, he bought 1,000 shares of Morningstar common stock at an average price of $186.59 per share, increasing his direct ownership to 9,480 shares.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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^*

Holt Michael

(Last) (First) (Middle)

22 WEST WASHINGTON STREET

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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	03/04/2026		P		1,000	A	$186.59	9,480	D

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:

Remarks:

	/s/Kathleen Peacock, by power of attorney	03/04/2026
	** 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).
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FAQ

What insider transaction did Morningstar (MORN) disclose for Michael Holt?

Morningstar disclosed that Chief Financial Officer Michael Holt bought 1,000 shares of its common stock. The open-market purchase occurred on March 4, 2026, and was reported on a Form 4 insider trading filing for Morningstar, Inc.

How many Morningstar (MORN) shares did the CFO buy and at what price?

Michael Holt purchased 1,000 Morningstar common shares in an open-market transaction. The filing reports an average price of $186.59 per share for this trade, reflecting a single non-derivative transaction in Morningstar, Inc. stock.

What is Michael Holt’s Morningstar (MORN) share ownership after this Form 4?

After the reported transaction, Michael Holt directly owns 9,480 Morningstar common shares. This total reflects his holdings following the March 4, 2026 open-market purchase of 1,000 additional shares disclosed in the Form 4 filing.

Was the Morningstar (MORN) CFO’s Form 4 transaction a purchase or sale?

The transaction was a purchase of Morningstar stock by the CFO. The Form 4 lists transaction code “P” and identifies it as an open-market or private purchase, indicating a buy of 1,000 common shares rather than a sale or disposal.

Is Michael Holt’s Morningstar (MORN) ownership direct or indirect?

Michael Holt’s reported ownership in this filing is direct. The Form 4 classifies the 9,480 Morningstar common shares he holds after the transaction with ownership code “D,” indicating direct ownership rather than indirect holdings through another entity.