X0202 4 2008-05-02 0001289419 Morningstar, Inc. MORN 0001324003 Huang Tao C/O MORNINGSTAR, INC. 225 WEST WACKER DRIVE CHICAGO IL 60606 0 1 0 0 Chief Operating Officer Common Stock 2008-05-02 4 M 0 5000 10.98 A 178159 D Common Stock 2008-05-05 4 M 0 7500 10.98 A 185659 D Common Stock 2008-05-02 4 S 0 675 70.00 D 184984 D Common Stock 2008-05-02 4 S 0 26 70.02 D 184958 D Common Stock 2008-05-02 4 S 0 115 70.11 D 184843 D Common Stock 2008-05-02 4 S 0 158 70.12 D 184685 D Common Stock 2008-05-02 4 S 0 79 70.15 D 184606 D Common Stock 2008-05-02 4 S 0 118 70.16 D 184488 D Common Stock 2008-05-02 4 S 0 66 70.19 D 184422 D Common Stock 2008-05-02 4 S 0 79 70.21 D 184343 D Common Stock 2008-05-02 4 S 0 26 70.23 D 184317 D Common Stock 2008-05-02 4 S 0 184 70.25 D 184133 D Common Stock 2008-05-02 4 S 0 106 70.26 D 184027 D Common Stock 2008-05-02 4 S 0 132 70.27 D 183895 D Common Stock 2008-05-02 4 S 0 237 70.28 D 183658 D Common Stock 2008-05-02 4 S 0 211 70.29 D 183447 D Common Stock 2008-05-02 4 S 0 132 70.30 D 183315 D Common Stock 2008-05-02 4 S 0 52 70.31 D 183263 D Common Stock 2008-05-02 4 S 0 237 70.32 D 183026 D Common Stock 2008-05-02 4 S 0 26 70.33 D 183000 D Common Stock 2008-05-02 4 S 0 27 70.34 D 182973 D Common Stock 2008-05-02 4 S 0 26 70.35 D 182947 D Common Stock 2008-05-02 4 S 0 27 70.37 D 182920 D Common Stock 2008-05-02 4 S 0 158 70.40 D 182762 D Common Stock 2008-05-02 4 S 0 26 70.41 D 182736 D Common Stock 2008-05-02 4 S 0 26 70.44 D 182710 D Common Stock 2008-05-02 4 S 0 105 70.45 D 182605 D Common Stock 2008-05-02 4 S 0 131 70.46 D 182474 D Common Stock 2008-05-02 4 S 0 53 70.47 D 182421 D Common Stock 2008-05-02 4 S 0 105 70.48 D 182316 D Employee Stock Option (Right to Buy) 10.98 2008-05-02 4 M 0 5000 0 D 2010-01-03 Common Stock 5000 710500 D Employee Stock Option (Right to Buy) 10.98 2008-05-05 4 M 0 7500 0 D 2010-01-03 Common Stock 7500 703000 D The options became exercisable in four equal installments on January 3, 2001, 2002, 2003 and 2004. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 26, 2008. Form 1 of 4 /s/ Heidi Miller, by power of attorney 2008-05-06