Morningstar, Inc.'s SEC filings document formal disclosures for a public investment-research, data, ratings, indexes, and advisory-services company. Recent 8-K reports cover operating results, supplemental presentations, shareholder letters, Regulation FD investor Q&A materials, quarterly dividend declarations, and other material-event reporting.
Proxy and annual meeting filings document board composition, director elections, advisory executive-compensation votes, auditor ratification, and related governance matters. The company's filings also discuss capital-structure items, material agreements, and risk factors tied to brand independence, cybersecurity, data and information liability, artificial intelligence, strategic transactions, indebtedness, regulatory conditions, and business continuity.
Morningstar, Inc. furnished its quarterly materials and announced a new share repurchase authorization. The company issued an Earnings Release for the quarter ended September 30, 2025 and a Supplemental Presentation, and published a Shareholder Letter; each is furnished as Exhibits 99.1, 99.2, and 99.3.
The Board approved termination of the prior three-year $500 million repurchase program, under which repurchases were completed in October 2025, and authorized a new three-year program to repurchase up to $1 billion of common stock, effective October 31, 2025.
Morningstar, Inc. announced a leadership transition in its revenue organization. Chief Revenue Officer Daniel Dunn informed the company on October 8, 2025 that he will depart to pursue another opportunity, effective November 21, 2025. Julie Willoughby, currently Head of Global Sales, will replace Mr. Dunn effective November 21, 2025. Willoughby brings over 25 years of experience at the company in client-facing and sales roles.
Morningstar, Inc. filed an 8-K reporting a material event and included a broad cautionary statement of forward-looking risks. The disclosure lists specific business and operational risks that could affect future results, including the failure to consummate the CRSP transaction, cybersecurity and data protection failures, regulatory or compliance actions, challenges in recruiting and retaining talent, potential defects in products or automated advisory tools, acquisition and divestiture execution risk, rising interest rates and indebtedness pressure, and risks from artificial intelligence integration. The filing refers readers to its SEC reports for a fuller description and notes Item 9.01 exhibits were included.
Morningstar, Inc. reported that it has entered into a definitive agreement to acquire the Center for Research in Security Prices, LLC, a subsidiary of the University of Chicago, for $375.0 million. The deal is subject to customary closing conditions, including regulatory approval, and is expected to close in the fourth quarter of 2025.
The company disclosed this transaction under a Regulation FD disclosure, and attached the related press release as an exhibit, highlighting the planned expansion of its capabilities through this acquisition once completed.
Morningstar, Inc. announced that its Board of Directors has approved a regular quarterly cash dividend of 45.5 cents per share. The dividend will be paid on October 31, 2025 to shareholders who are on record as of October 3, 2025. This payment continues Morningstar’s practice of returning cash to shareholders through recurring dividends.
Conan Wiersema, Chief Accounting Officer and Principal Accounting Officer of Morningstar, Inc. (MORN), reported a transaction dated 09/01/2025 on Form 4. The filing shows a transaction coded F at a price of $262.42 and lists 1,416 shares beneficially owned following the reported transaction. The filing explains the transaction "represents shares withheld for taxes upon the vesting of the restricted stock unit grant made on March 1, 2024." The Form 4 was signed via power of attorney on 09/02/2025.
Morningstar, Inc. (MORN) reporting person Michael Holt, identified as Chief Financial Officer and director, disposed of 49 shares of Morningstar common stock on 09/01/2025 at a reported price of $262.42 per share. The filing states the 49 shares were withheld to cover taxes upon the vesting of a restricted stock unit grant originally made on March 1, 2024. After this transaction Holt beneficially owned 5,502 shares in a direct capacity. The Form 4 was signed by Kathleen Peacock by power of attorney on 09/02/2025.
Morningstar, Inc. furnished an Investor Q&A covering investor questions received through July 31, 2025 and attached it as Exhibit 99.1 to this Form 8-K; the Q&A is furnished, not filed, and website materials referenced are not incorporated by reference. The company also disclosed that James Rhodes, President of Direct Platform, will leave on Sept. 12, 2025. Frannie Besztery, Chief Operating Officer of Direct Platform, will serve as interim head until a permanent successor is appointed. The 8-K focuses on Reg FD disclosure and a leadership transition in the Direct Platform business.
Joseph D. Mansueto, Executive Chairman and >10% owner of Morningstar, Inc. (MORN), sold a total of 11,881 shares of common stock across transactions dated 08/25/2025 to 08/27/2025 executed under a Rule 10b5-1 trading plan. The reported weighted-average sale prices on the disclosed blocks ranged from $259.54 to $265.475. After these disposals his reported direct beneficial ownership is 9,312,836 shares; indirect holdings include 5,336,106 shares held in grantor retained annuity trusts and 150,000 shares held in trusts for his children, totaling 14,798,942 beneficially owned shares.
Morningstar, Inc. (MORN) Form 4: Joseph D. Mansueto, Executive Chairman, reported multiple sales of Morningstar common stock executed under a Rule 10b5-1 trading plan adopted November 15, 2024. Between August 20 and August 22, 2025, the filings show a series of dispositions totaling 15,514 shares across multiple trades with weighted-average prices ranging from about $259.37 to $265.90. The filing records the reporting person’s continuing beneficial ownership after these transactions at approximately 9.32 million shares (directly held) and discloses shares held indirectly in trusts of 5,336,106 and 150,000 for the benefit of the reporting person and his children. All sales are identified with code S and described as effected pursuant to the 10b5-1 plan.