Our employees and our non-employee directors are eligible for awards under the Morningstar Amended and Restated 2011 Stock Incentive Plan, which provides for a variety of equity-based awards, including stock options, RSUs, MSUs, PSUs, and restricted stock.

The following table summarizes the stock-based compensation expense included in each of our operating expense categories:


	Three months ended March 31,
(in millions)		2025		2024
Cost of revenue		$	3.5	$	4.6
Sales and marketing		1.9		1.9
General and administrative		3.7		4.9
Total stock-based compensation expense		$	9.1	$	11.4

As of March 31, 2025, the total unrecognized stock-based compensation cost related to outstanding RSUs, MSUs, and PSUs expected to vest was $76.5 million, which we expect to recognize over a weighted average period of 24 months.