Morningstar (MORN) 10% Owner Joseph D. Mansueto Sells Shares

What Happened Joseph D. Mansueto, a 10% owner of Morningstar, sold a total of 11,345 Morningstar shares in open-market transactions on August 20–21, 2026. The reported lots: 3,157 @ $212.87 ($672,019); 1,359 @ $214.16 ($291,050); 1,938 @ $215.18 ($417,009); 295 @ $216.16 ($63,767); 501 @ $217.13 ($108,784); 3,827 @ $216.70 ($829,301); and 268 @ $217.57 ($58,308). Aggregate proceeds were approximately $2,440,238. These were sales (S) effected pursuant to a Rule 10b5-1 trading plan.

Key Details

• Dates: Aug 20–21, 2026 (Form 4 filed Aug 21, 2026) — filing appears timely.
• Prices: weighted-average prices listed per lot; underlying trades occurred across price ranges of approximately $212.6650 to $217.6800 (see footnotes for per-lot ranges). The filer offers to provide detailed trade-by-trade info on request.
• Holdings after transaction: not reported in the provided filing.
• Footnotes: trades were made under a 10b5-1 plan adopted Nov 19, 2025 (F1). Some shares are held in trusts/grantor retained annuity trusts for the reporting person’s children and involve trustees (F9, F10).
• Transaction code: S = Sale.

Context As a 10% owner, Mansueto’s sales are significant in size but were executed under a pre-arranged 10b5-1 plan, which typically specifies timing and amounts in advance. Sales under such plans are generally considered routine disposition mechanisms rather than an immediate signal about the insider’s view of the company.