Welcome to our dedicated page for Morningstar SEC filings (Ticker: MORN), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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. (MORN) filed a Form 8-K to share an updated Investor Q&A with the market. The company is furnishing, rather than filing, investor questions received through November 5, 2025, and its responses as Exhibit 99.1, meaning this information is provided for transparency but is not incorporated into its formal financial statements.
The filing is accompanied by an extensive forward-looking statements disclaimer. Morningstar highlights a wide range of business risks, including completing the Center for Research in Security Prices (CRSP) acquisition, protecting its brand and independence, cybersecurity and data protection, impacts of changing economic conditions and interest rates, regulatory and compliance risks, the effects of artificial intelligence on its products, execution of strategic transactions, indebtedness and rising interest rates, tax complexity, ESG-related liabilities, and the need to retain talent and maintain client relationships.
Morningstar, Inc. (MORN) Executive Chairman, a director and 10% owner, reported multiple open-market sales of Morningstar common stock on November 20–21, 2025. The transactions were coded as sales and were carried out under a Rule 10b5-1 trading plan adopted on November 15, 2024. Shares were sold in numerous trades at weighted average prices reported between $209.8223 and $214.8368, with underlying trade prices ranging from $209.2200 to $215.0000. Following these transactions, the reporting person beneficially owns 8,602,417 shares directly and 5,948,127 and 150,000 shares indirectly through grantor retained annuity trusts and other trusts for family members.
Morningstar, Inc. (MORN) executive chairman and 10% owner reported open-market sales of company common stock. On November 18 and 19, 2025, the reporting person sold multiple blocks of Morningstar common stock at weighted average prices ranging from about $206.73 to $211.59, all coded as open-market sales under transaction code "S." These trades were carried out pursuant to a Rule 10b5-1 trading plan adopted on November 15, 2024, meaning the sales followed a pre-established schedule.
After these transactions, the reporting person continued to hold 8,616,917 shares directly, as well as large indirect positions held through various trusts, including 5,948,127 shares in grantor retained annuity trusts and 150,000 shares in trusts for the reporting person’s children.
Morningstar, Inc. (MORN) reported insider activity by its Chief Revenue Officer on a Form 4. On 11/15/2025, the officer acquired 346 shares of common stock at $0 through the vesting of a market stock unit grant originally awarded on November 15, 2022. On the same date, the officer disposed of 154 shares of common stock at a price of $211.95 per share. Following these transactions, the officer directly owned 14,851 shares of Morningstar common stock.
Morningstar, Inc. CEO Form 4 details equity award activity. On 11/15/2025, the reporting person acquired 1,861 shares of Morningstar common stock through the vesting of previously granted market stock units at a stated price of $0. On the same date, 826 shares of common stock were disposed of at $211.95 per share. After these transactions, the reporting person beneficially owned 140,330 shares of common stock directly.
In addition, 10,810 new market stock units were acquired, which may convert into common stock based on the company’s cumulative total shareholder return over a three-year performance period ending on November 14, 2028. The notes also clarify that the reported share total includes 1,237 restricted stock units scheduled to vest in full on May 15, 2026, which had been omitted from a prior report due to administrative error.
Morningstar, Inc. (MORN) reported insider equity awards and related share activity for an officer serving as CAO & PAO. On November 15, 2025, the officer received 471 restricted stock units, each representing one share of common stock, which will vest in four equal annual installments beginning November 15, 2026. The filing also shows 12 market stock units converted into common stock earned from a prior grant, and a sale of 28 common shares at $211.95 per share, typically used to cover taxes. In addition, the officer was granted 294 new market stock units tied to total shareholder return over a three-year performance period ending November 14, 2028, leaving 1,871 common shares and 294 market stock units beneficially owned directly after these transactions.
Morningstar, Inc. (MORN) CFO reported equity award activity involving common stock and market stock units on 11/15/2025. The filing shows 163 shares of common stock were acquired at $0 upon vesting of a prior market stock unit grant, and 73 shares were disposed of at $211.95, typically reflecting shares withheld to cover obligations. After these transactions, the CFO directly owned 5,592 shares of common stock.
The report also discloses derivative awards. A prior market stock unit award tied to 163 shares was settled, leaving no remaining balance from that grant. In addition, 1,946 market stock units were acquired, each linked to one share of common stock and expiring on 11/14/2028. The number of units ultimately earned will depend on Morningstar’s cumulative total shareholder return over the three-year performance period ending November 14, 2028.
Morningstar, Inc. (MORN) reported insider share sales by a director, 10% owner and Executive Chairman on a Form 4. The insider sold 6,969 shares of common stock on 11/14/2025 at a weighted average price of $213.3175, and 1,070 shares on 11/17/2025 at a weighted average price of $211.1233, both coded as open-market sales. These transactions were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 15, 2024. After the reported sales, the insider beneficially owns 8,631,417 shares directly, plus 5,948,127 shares held by grantor retained annuity trusts and 150,000 shares held in additional trusts.
Morningstar, Inc. (MORN) filed a Form 4 disclosing insider sales by its Executive Chairman, who is also a Director and 10% Owner. The reporting person executed multiple open‑market sales on November 7, 10, and 11, 2025 pursuant to a Rule 10b5‑1 trading plan adopted on November 15, 2024. The reported tranches reflect weighted average prices across ranges including $210.6400–$211.5900 and up to $217.1400–$217.1950.
Following these transactions, the reporting person beneficially owns 8,653,554 shares directly. Indirect holdings include 5,948,127 shares held by grantor retained annuity trusts and 150,000 shares held in trusts for the reporting person’s children, as disclosed.
Morningstar, Inc. (MORN) reported insider transactions by its Executive Chairman, who is also a Director and 10% Owner. On 11/05/2025 and 11/06/2025, the reporting person executed open‑market sales of common stock pursuant to a Rule 10b5‑1 trading plan adopted on November 15, 2024.
Reported sales included 6,668 shares at a weighted average price of $210.9357, 530 shares at $212.1119, 52 shares at $212.75, and 4,093 shares at $211.6135. Following these transactions, the reporting person beneficially owned 8,675,304 shares directly. Additional indirect holdings were reported as 5,948,127 shares held by grantor retained annuity trusts and 150,000 shares held in trusts for the reporting person’s children.
Prices reflect weighted averages across multiple trades, with the filer undertaking to provide full trade details upon request.