Morningstar (NASDAQ: MORN) chair sells 9,522 shares under 10b5-1 plan
Rhea-AI Filing Summary
Morningstar executive chairman and director Joseph D. Mansueto, a more than 10% owner, reported open-market sales totaling 9,522 shares of Common Stock on August 6-7, 2026. The sales occurred in multiple trades at reported weighted average prices and were effected pursuant to a Rule 10b5-1 trading plan adopted on November 19, 2025. Some shares associated with him are held indirectly in grantor retained annuity trusts and other trusts for the benefit of his children.
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Insights
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Insider Trade Summary 10b5-1
Net Seller: 9,522 shares
Net Sell
8 txns
Insider
Mansueto Joseph D
Role
Executive Chairman
Sold
9,522 shs ($1.90M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F1, F3 | 166 | $196.1643 | $33K |
| Sale | Common Stock F1, F4 | 1,453 | $198.4928 | $288K |
| Sale | Common Stock F1, F5 | 2,559 | $199.34 | $510K |
| Sale | Common Stock F1, F6 | 2,566 | $200.4033 | $514K |
| Sale | Common Stock F1, F7 | 506 | $201.5287 | $102K |
| Sale | Common Stock F1, F2 | 2,272 | $198.3846 | $451K |
| holding | Common Stock F8 | -- | -- | -- |
| holding | Common Stock F9 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 8,006,920 shares (Direct);
Common Stock — 6,427,675 shares (Indirect, By Trust)
Footnotes (9)
- 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 $198.3300 to $198.5000. 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 $195.9800 to $196.3450. 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 $198.0000 to $198.7800. 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 $199.0050 to $199.9100 . 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 $200.0300 to $200.9800. 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 $201.0900 to $201.8150. 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 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.
- F9. 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 Aug 6-7, 2026: 9,522 shares
Aug 6, 2026 sale block: 2,272 shares at $198.3846 per share
Aug 7, 2026 sale block: 2,566 shares at $200.4033 per share
+2 more
5 metrics
Total shares sold Aug 6-7, 2026
9,522 shares
Aggregate Common Stock sales reported by Joseph D. Mansueto
Aug 6, 2026 sale block
2,272 shares at $198.3846 per share
Common Stock sold in open-market trades with weighted average price
Aug 7, 2026 sale block
2,566 shares at $200.4033 per share
Common Stock sold in open-market trades with weighted average price
Aug 7, 2026 smaller block
506 shares at $201.5287 per share
Common Stock sold in open-market trades with weighted average price
Rule 10b5-1 plan adoption date
November 19, 2025
Date Joseph D. Mansueto adopted the trading plan governing these sales
Key Terms
Rule 10b5-1 trading plan, weighted average sales price, grantor retained annuity trusts, trustee
4 terms
Rule 10b5-1 trading plan regulatory
"The sales reported were effected pursuant to a Rule 10b5-1 trading plan"
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 of the reporting person"
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.
trustee financial
"The reporting person serves as trustee of the grantor retained annuity trusts"
A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.
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FAQ
What insider transactions did Morningstar (MORN) report for August 6-7, 2026?
Joseph D. Mansueto sold 9,522 Morningstar shares of Common Stock in open-market transactions on August 6-7, 2026. The Form 4 lists six separate sale entries, each with a reported weighted average price per share for the executed trade ranges.
Were the Morningstar (MORN) insider sales made under a Rule 10b5-1 plan?
Yes. The sales were effected under a Rule 10b5-1 trading plan adopted by Joseph D. Mansueto on November 19, 2025. The filing also affirms Rule 10b5-1 plan status via its checkbox, and the footnotes describe the plan as governing the reported sales.
What is Joseph Mansueto’s role and ownership status at Morningstar (MORN)?
Joseph D. Mansueto is Morningstar’s executive chairman and a director, and he is identified in the filing as a more than 10% owner. This status means his transactions in Morningstar stock are subject to Section 16 reporting requirements, including the Form 4 disclosed here.
Do the Morningstar (MORN) Form 4 sales involve derivative securities or only common stock?
The reported transactions involve only Common Stock. The Form 4 lists six non-derivative sales of Common Stock and shows no derivative transactions or option exercises in the derivative summary for this reporting period.