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. Executive Chairman Joseph D. Mansueto reported open-market sales of a total of 9,520 shares of Morningstar common stock on May 21–22, 2026. The sales were made at prices ranging from $171.6700 to $179.8600 per share and were executed under a Rule 10b5-1 trading plan adopted on November 19, 2025.
After these transactions, Mansueto continues to hold more than 8 million Morningstar shares directly and also has indirect holdings through grantor retained annuity trusts and trusts for his children, which hold 150,000 shares and 6,277,675 shares, respectively.
Morningstar, Inc. furnished an investor Q&A that explains recent strategic, data, and financial topics. The company highlights its PitchBook integration with Perplexity, which lets paid Perplexity users with PitchBook subscriptions pull extensive private‑markets data into AI workflows, while non‑subscribers see only limited basic data.
The Q&A outlines CRSP’s index and data licensing business model, Morningstar’s data sourcing and cleaning processes, and how it gathers information on SMAs, CITs, and model portfolios. It also clarifies 2025 incentive targets and reports 2025 adjusted operating income of $582.9 million on revenue of $2.4 billion, up 7.5% (8.0% organic) versus 2024. Morningstar explains its remaining performance obligations, which rose from $1.489 billion as of March 31, 2025 to about $1.7 billion as of March 31, 2026.
Morningstar, Inc. Executive Chairman Joseph D. Mansueto reported open-market sales of 21,228 shares of Common Stock over May 18–20, 2026. Reported sale prices include $173.1127 and $180.3891 per share, based on multiple trades each day.
The filing states these sales were made under a Rule 10b5-1 trading plan adopted on November 19, 2025, indicating they were pre-arranged rather than timed discretionarily. Following the sales, he holds 8,053,012 shares directly.
In addition, the filing shows indirect holdings of 150,000 shares in grantor retained annuity trusts for his benefit and his children, where he serves as trustee, and 6,277,675 shares in trusts for his children, where his spouse is trustee.
BRAMMAN ANNE L reported acquisition or exercise transactions in this Form 4 filing.
Morningstar, Inc. director Anne L. Bramman received a grant of 1,505 restricted stock units, each representing a right to one share of Morningstar common stock. These units were awarded at no cash cost to her and increase her direct holdings to 1,505 shares-equivalent.
The restricted stock units vest in three equal annual installments beginning on May 15, 2027, meaning the award will fully vest over three years if service-based conditions are met. This is a routine, compensation-related equity grant rather than an open-market stock purchase or sale.
TSAY CAROLINE J reported acquisition or exercise transactions in this Form 4 filing.
Morningstar, Inc. director Caroline J. Tsay received an equity grant of 1,144 restricted stock units, each representing the right to receive one share of Morningstar common stock. These units vest in three equal annual installments beginning on May 15, 2027. Following this award, she holds 4,888.5115 shares directly.
Kaplan Steven N reported acquisition or exercise transactions in this Form 4 filing.
Morningstar, Inc. director Steven N. Kaplan received a grant of 1,144 restricted stock units of common stock as equity compensation. The award was recorded at a price of $0.0000 per unit, reflecting that it is a grant rather than a market purchase. After this grant, Kaplan directly holds 43,080 shares of Morningstar common stock. Each restricted stock unit represents the right to receive one share of common stock and will vest in three equal annual installments beginning on May 15, 2027, meaning the value of the award depends on Kaplan remaining eligible through the vesting dates and the future share price.
Morningstar, Inc. director Doniel Sutton received a grant of 1,144 restricted stock units of common stock on May 15, 2026 as equity compensation. Each unit represents a contingent right to one share and carries no cash exercise price. The units vest in three equal annual installments beginning May 15, 2027. Following this award, Sutton holds 4,970 shares of Morningstar common stock directly.
JOYNT STEPHEN reported acquisition or exercise transactions in this Form 4 filing.
Morningstar, Inc. director Stephen Joynt received a grant of 1,144 restricted stock units of Morningstar common stock on May 15, 2026. Each unit represents one share and will vest in three equal annual installments beginning May 15, 2027. Following this award, he directly holds 6,282 shares.
Diamonte Robin reported acquisition or exercise transactions in this Form 4 filing.
Morningstar, Inc. director Robin Diamonte reported receiving a grant of 1,144 restricted stock units of Morningstar common stock. Each unit represents a contingent right to receive one share of common stock. The restricted stock units vest in three equal annual installments beginning on May 15, 2027. Following this award, Diamonte directly holds 11,338 shares of Morningstar common stock, reflecting a routine equity-based compensation grant rather than an open-market transaction.
FRANCIS CHERYL A reported acquisition or exercise transactions in this Form 4 filing.
Morningstar, Inc. director Cheryl A. Francis received a grant of 1,144 restricted stock units of common stock on May 15, 2026 as equity compensation. Each unit represents a contingent right to one share, vesting in three equal annual installments beginning May 15, 2027. After this award, she directly holds 36,934 shares.