X0202 4 2008-05-12 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 2008-05-12 4 M 0 5000 10.98 A 178159 D Common Stock 2008-05-12 4 S 0 1 72.26 D 178158 D Common Stock 2008-05-12 4 S 0 99 72.28 D 178059 D Common Stock 2008-05-12 4 S 0 200 72.97 D 177859 D Common Stock 2008-05-12 4 S 0 100 73.11 D 177759 D Common Stock 2008-05-12 4 S 0 100 73.12 D 177659 D Common Stock 2008-05-12 4 S 0 100 73.13 D 177559 D Common Stock 2008-05-12 4 S 0 100 73.14 D 177459 D Common Stock 2008-05-12 4 S 0 100 73.15 D 177359 D Common Stock 2008-05-12 4 S 0 300 73.16 D 177059 D Common Stock 2008-05-12 4 S 0 200 73.18 D 176859 D Common Stock 2008-05-12 4 S 0 100 73.19 D 176759 D Common Stock 2008-05-12 4 S 0 100 73.21 D 176659 D Common Stock 2008-05-12 4 S 0 100 73.24 D 176559 D Common Stock 2008-05-12 4 S 0 100 73.29 D 176459 D Common Stock 2008-05-12 4 S 0 100 73.33 D 176359 D Common Stock 2008-05-12 4 S 0 100 73.36 D 176259 D Common Stock 2008-05-12 4 S 0 100 73.37 D 176159 D Common Stock 2008-05-12 4 S 0 100 73.40 D 176059 D Common Stock 2008-05-12 4 S 0 100 73.41 D 175959 D Common Stock 2008-05-12 4 S 0 100 73.48 D 175859 D Common Stock 2008-05-12 4 S 0 300 73.53 D 175559 D Common Stock 2008-05-12 4 S 0 100 73.54 D 175459 D Common Stock 2008-05-12 4 S 0 100 73.56 D 175359 D Common Stock 2008-05-12 4 S 0 100 73.59 D 175259 D Common Stock 2008-05-12 4 S 0 300 73.60 D 174959 D Common Stock 2008-05-12 4 S 0 100 73.62 D 174859 D Common Stock 2008-05-12 4 S 0 200 73.67 D 174659 D Common Stock 2008-05-12 4 S 0 100 73.68 D 174559 D Common Stock 2008-05-12 4 S 0 60 73.71 D 174499 D Employee Stock Option (Right to Buy) 10.98 2008-05-12 4 M 0 5000 0 D 2010-01-03 Common Stock 5000 698000 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 2 /s/ Heidi Miller, by power of attorney 2008-05-13