Morningstar chair sells 11,345 shares in plan
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Form Type
4
Rhea-AI Filing Summary
Morningstar, Inc. (MORN) reported that Executive Chairman and ten percent owner Joseph D. Mansueto sold 11,345 shares of common stock in the open market on August 20–21, 2026, across seven transactions at weighted average prices between $212.8663 and $217.5665. These sales were made pursuant to a Rule 10b5-1 trading plan adopted on November 19, 2025. Additional shares are held indirectly in various trusts for the benefit of Mansueto and his children.
Insider Trade Summary 10b5-1
Net Seller: 11,345 shares
Net Sell
9 txns
Insider
Mansueto Joseph D
Role
Executive Chairman
Sold
11,345 shs ($2.44M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F1, F7 | 3,827 | $216.6975 | $829K |
| Sale | Common Stock F1, F8 | 268 | $217.5665 | $58K |
| Sale | Common Stock F1, F2 | 3,157 | $212.8663 | $672K |
| Sale | Common Stock F1, F3 | 1,359 | $214.165 | $291K |
| Sale | Common Stock F1, F4 | 1,938 | $215.175 | $417K |
| Sale | Common Stock F1, F5 | 295 | $216.1577 | $64K |
| Sale | Common Stock F1, F6 | 501 | $217.1331 | $109K |
| holding | Common Stock F9 | -- | -- | -- |
| holding | Common Stock F10 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 7,943,851 shares (Direct);
Common Stock — 6,427,675 shares (Indirect, By Trust)
Footnotes (10)
- 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.
- F2. The transaction was executed in multiple trades at prices ranging from $212.6650 to $213.5600. 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.
- F3. The transaction was executed in multiple trades at prices ranging from $213.7450 to $214.7200. 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.
- F4. The transaction was executed in multiple trades at prices ranging from $214.7600 to $215.7100. 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.
- F5. The transaction was executed in multiple trades at prices ranging from $215.7800 to $216.6100. 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.
- F6. The transaction was executed in multiple trades at prices ranging from $216.9100 to $217.3750. 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.
- F7. The transaction was executed in multiple trades at prices ranging from $216.4900 to $217.4700. 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.
- F8. The transaction was executed in multiple trades at prices ranging from $217.4900 to $217.6800. 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.
- F9. 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.
- F10. 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.
Key Figures
Total shares sold: 11,345 shares
Sale date 1: August 20, 2026
Sale date 2: August 21, 2026
+5 more
8 metrics
Total shares sold
11,345 shares
Aggregate of seven open-market sales by Joseph D. Mansueto
Sale date 1
August 20, 2026
Date of multiple reported sales of common stock
Sale date 2
August 21, 2026
Date of additional reported sales of common stock
Lowest weighted average sale price
$212.8663 per share
One of the August 20, 2026 sale transactions
Highest weighted average sale price
$217.5665 per share
One of the August 21, 2026 sale transactions
Rule 10b5-1 plan adoption date
November 19, 2025
Date Mansueto adopted the trading plan used for these sales
Number of sale transactions
7
Count of reported open-market sale entries
Holding entries via trusts
2
Indirect ownership entries noted as held "By Trust"
Key Terms
Rule 10b5-1 trading plan, weighted average sales price, grantor retained annuity trusts, ten percent owner
4 terms
Rule 10b5-1 trading plan regulatory
"The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average sales price financial
"The price reported above reflects the weighted average sales price."
grantor retained annuity trusts financial
"The shares are held in grantor retained annuity trusts for the benefit"
A grantor retained annuity trust (GRAT) is an estate-planning tool where an owner transfers assets into a trust and receives fixed payments back for a set number of years; any remaining assets after that period pass to designated beneficiaries. For investors it matters because it can move future investment growth to heirs while potentially reducing gift and estate taxes — like putting a rising asset in a timed box that pays you first and gives the remaining upside to others.
ten percent owner regulatory
"reporting person is listed as a ten percent owner of the issuer"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did MORN disclose for Joseph D. Mansueto on this Form 4?
Joseph D. Mansueto reported seven open-market sales of Morningstar, Inc. common stock totaling 11,345 shares on August 20–21, 2026, at weighted average prices ranging from $212.8663 to $217.5665, all under a previously adopted Rule 10b5-1 trading plan.
Was the Morningstar (MORN) insider selling done under a Rule 10b5-1 plan?
Yes. A footnote states the sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by Joseph D. Mansueto on November 19, 2025.
AI-generated analysis. How Rhea-AI works. Not financial advice.
