Kunal Kapoor - May 15, 2022 Form 4 Insider Report for Morningstar, Inc. (MORN)

Role
CEO, Director
Signature
/s/ Patrick Maloney, by power of attorney
Stock symbol
MORN
Transactions as of
May 15, 2022
Transactions value $
-$2,179,262
Form type
4
Date filed
5/17/2022, 06:07 PM
Previous filing
Jan 5, 2022
Next filing
Aug 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MORN Common Stock (Restricted Stock Units) Award $0 +3.6K +3.44% $0.00 108K May 15, 2022 Direct F1
transaction MORN Common Stock (Restricted Stock Units) Award $0 +2.45K +2.26% $0.00 111K May 15, 2022 Direct F2
transaction MORN Common Stock Options Exercise $0 +6.43K +5.8% $0.00 117K May 17, 2022 Direct F3
transaction MORN Common Stock Award $0 +4.19K +3.57% $0.00 121K May 17, 2022 Direct F4
transaction MORN Common Stock Tax liability -$2.18M -8.97K -7.38% $242.95 112K May 15, 2022 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MORN Market Stock Units Award $0 +5.89K $0.00 5.89K May 15, 2022 Common Stock 5.89K Direct F5
transaction MORN Market Stock Units Award $0 +2.24K $0.00 2.24K May 15, 2022 Common Stock 2.24K Direct F5
transaction MORN Market Stock Units Options Exercise -6.43K -100% 0 May 17, 2022 Common Stock 6.43K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Morningstar, Inc. common stock. The restricted stock units vest in four equal annual installments beginning May 15, 2023.
F2 Each restricted stock unit represents a contingent right to receive one share of Morningstar, Inc. common stock. The restricted stock units fully vest on May 15, 2023.
F3 Represents common stock earned from the vesting of a market stock unit grant on May 15, 2019.
F4 Represents additional common stock earned from achievement of cumulative total shareholder return for the three year performance period ending May 14, 2022 in excess of target under the terms of a market stock unit grant on May 15, 2019.
F5 The market stock units earned will be based in part on the company's cumulative total shareholder return for the three year performance period ending May 14, 2025.