JOYNT STEPHEN 4

What Happened
Stephen Joynt, a director of Morningstar, Inc. (MORN), was granted 1,144 restricted stock units (RSUs) on May 15, 2026. The Form 4 shows an acquisition (code A) of 1,144 shares at $0.00 per share (total cash paid $0). This is a compensation award (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-05-15; Form 4 filed: 2026-05-19 (timely — within the two-business-day SEC filing window).
• Transaction type/code: Award/Grant (A).
• Amount: 1,144 restricted stock units; reported acquisition price: $0.00 (no cash paid).
• Vesting/footnote: Each RSU is a contingent right to one share. RSUs vest in three equal annual installments beginning May 15, 2027.
• Shares owned after transaction: Not specified in the provided filing.
• No 10b5-1 plan, tax-withholding, or immediate sale mentioned in the filing.

Context: This grant is a typical equity compensation award to an insider and does not represent an open-market purchase or sale. RSUs convey potential future ownership if and when they vest and shares are issued; they do not require a cash outlay at grant.