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 September 30,				Nine months ended September 30,
(in millions)	2025		2024		2025		2024
Cost of revenue	$	9.0	$	6.5	$	20.7	$	18.1
Sales and marketing	3.0		2.5		8.0		7.0
General and administrative	6.6		4.2		17.4		13.7
Total stock-based compensation expense	$	18.6	$	13.2	$	46.1	$	38.8

As of September 30, 2025, the total unrecognized stock-based compensation cost related to outstanding RSUs, MSUs, and PSUs expected to vest was $76.0 million, which we expect to recognize over a weighted average period of 28 months.