X0303 4 2008-08-11 0001289419 Morningstar, Inc. MORN 0001205346 NOONAN JACK C/O MORNINGSTAR, INC. 225 WEST WACKER DRIVE CHICAGO IL 60606 1 0 0 0 Common Stock 2008-08-11 4 M 0 1000 2.77 A 7200 D Common Stock 2008-08-11 4 S 0 1000 64.9685 D 6200 D Employee Stock Option (Right to Buy) 2.77 2008-08-11 4 M 0 1000 0 D 2009-01-22 Common 1000 4000 D The options became exercisable in three equal installments on January 22, 2000, 2001, and 2002. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 22, 2006. This transaction was executed in multiple trades at prices ranging from 64.89 to 65.15. 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. /s/ Heidi Miller, by power of attorney 2008-08-11