Mansueto Joseph D 4
4 · Morningstar, Inc. · Filed May 22, 2026
Research Summary
AI-generated summary of this filing
Morningstar (MORN) 10% Owner Joseph Mansueto Sells Shares
What Happened
Joseph D. Mansueto, a 10% owner of Morningstar, sold a total of 9,520 Morningstar shares in open‑market transactions on May 21–22, 2026. The nine disposals had weighted‑average prices ranging roughly from $172 to $179.86 and generated aggregate proceeds of about $1.65 million. All sales were reported as disposals (not purchases) and were effected under a previously adopted Rule 10b5‑1 trading plan.
Key Details
- Transaction dates: May 21–22, 2026 (filed May 22, 2026).
- Total shares sold: 9,520; total proceeds: ~$1,651,984.
- Reported weighted‑average prices for the individual lots ranged from about $172.33 to $179.52; detailed trade price ranges in the filing span ~$171.67 to $179.86 (sales executed in multiple trades; weighted averages shown).
- Shares held after the transactions: not specified in this Form 4.
- Notable footnotes: sales were made pursuant to a Rule 10b5‑1 plan (F1); several lines note execution across multiple trades with price ranges (F2–F10); some shares are held in trusts/grantor retained annuity trusts for the reporting person’s children with the reporting person or spouse as trustee (F11, F12).
- Filing timeliness: Form 4 was filed the next day (May 22) and is not marked as late.
Context
- These were scheduled open‑market sales by a significant (10%) shareholder rather than new purchases; such sales are often part of personal or estate planning and were executed under a pre‑arranged 10b5‑1 plan. This filing shows disposition of shares, not an acquisition or option exercise.
Insider Transaction Report
Form 4
Mansueto Joseph D
DirectorExecutive Chairman10% Owner
Transactions
- Sale
Common Stock
[F1][F2]2026-05-21$172.33/sh−5,081$875,595→ 8,047,931 total - Sale
Common Stock
[F1][F3]2026-05-21$172.87/sh−1,935$334,512→ 8,045,996 total - Sale
Common Stock
[F1][F4]2026-05-21$174.07/sh−234$40,733→ 8,045,762 total - Sale
Common Stock
[F1][F5]2026-05-22$174.09/sh−317$55,185→ 8,045,445 total - Sale
Common Stock
[F1][F6]2026-05-22$174.98/sh−114$19,947→ 8,045,331 total - Sale
Common Stock
[F1][F7]2026-05-22$176.30/sh−741$130,640→ 8,044,590 total - Sale
Common Stock
[F1][F8]2026-05-22$177.08/sh−578$102,354→ 8,044,012 total - Sale
Common Stock
[F1][F9]2026-05-22$178.39/sh−293$52,267→ 8,043,719 total - Sale
Common Stock
[F1][F10]2026-05-22$179.52/sh−227$40,751→ 8,043,492 total
Holdings
- 6,277,675(indirect: By Trust)
Common Stock
[F11] - 150,000(indirect: By Trust)
Common Stock
[F12]
Footnotes (12)
- [F1]The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 19, 2025.
- [F10]The transaction was executed in multiple trades at prices ranging from $179.1100 to $179.8600. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
- [F11]The shares are held in grantor retained annuity trusts for the benefit of the reporting person and his children. The reporting person serves as trustee of the grantor retained annuity trusts.
- [F12]The shares are held in trusts for the benefit of the reporting person's children. The reporting person's spouse is trustee of the trusts.
- [F2]The transaction was executed in multiple trades at prices ranging from $171.6700 to $172.6650. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
- [F3]The transaction was executed in multiple trades at prices ranging from $172.6700 to $173.6600. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
- [F4]The transaction was executed in multiple trades at prices ranging from $173.7600 to $174.9900. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
- [F5]The transaction was executed in multiple trades at prices ranging from $173.4100 to $174.3750. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
- [F6]The transaction was executed in multiple trades at prices ranging from $174.6500 to $175.2700. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
- [F7]The transaction was executed in multiple trades at prices ranging from $175.8450 to $176.8100. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
- [F8]The transaction was executed in multiple trades at prices ranging from $176.8650 to $177.6150. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
- [F9]The transaction was executed in multiple trades at prices ranging from $178.0200 to $178.9700. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected.
Signature
/s/ Kathleen Peacock, by power of attorney|2026-05-22