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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1289419	Morningstar Inc.	MORN	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1205346	Jack Noonan	C/O Morningstar, Inc. 22 West Washington Street Chicago IL 60602		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2017-10-30	18,800	$85.40	26,601	No	4	S	Indirect	By Trust
Common Stock	Disposition	2017-10-30	1,200	$86.47	25,401	No	4	S	Indirect	By Trust

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Trust
No	4	S	Indirect	By Trust

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	3,344	Direct
Common Stock	1,000	Indirect	By spouse

Footnotes

The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 28, 2017.
The transaction was executed in multiple trades at prices ranging from $85.00 to $85.97. The price reported above reflects the weighted average sale 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.
The transaction was executed in multiple trades at prices ranging from $86.03 to $86.88. The price reported above reflects the weighted average sale 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.