X0202 4 2008-05-19 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 2008-05-19 4 M 0 5000 10.98 A 185664 D Common Stock 2008-05-19 4 S 0 206 73.23 D 185458 D Common Stock 2008-05-19 4 S 0 100 73.25 D 185358 D Common Stock 2008-05-19 4 S 0 94 73.26 D 185264 D Common Stock 2008-05-19 4 S 0 100 73.28 D 185164 D Common Stock 2008-05-19 4 S 0 100 73.35 D 185064 D Common Stock 2008-05-19 4 S 0 100 73.38 D 184964 D Common Stock 2008-05-19 4 S 0 100 73.44 D 184864 D Common Stock 2008-05-19 4 S 0 100 73.45 D 184764 D Common Stock 2008-05-19 4 S 0 100 73.48 D 184664 D Common Stock 2008-05-19 4 S 0 200 73.49 D 184464 D Common Stock 2008-05-19 4 S 0 285 73.50 D 184179 D Common Stock 2008-05-19 4 S 0 100 73.52 D 184079 D Common Stock 2008-05-19 4 S 0 15 73.53 D 184064 D Common Stock 2008-05-19 4 S 0 300 73.54 D 183764 D Common Stock 2008-05-19 4 S 0 100 73.55 D 183664 D Common Stock 2008-05-19 4 S 0 100 73.56 D 183564 D Common Stock 2008-05-19 4 S 0 100 73.57 D 183464 D Common Stock 2008-05-19 4 S 0 200 73.58 D 183264 D Common Stock 2008-05-19 4 S 0 100 73.60 D 183164 D Common Stock 2008-05-19 4 S 0 100 73.67 D 183064 D Common Stock 2008-05-19 4 S 0 100 73.75 D 182964 D Common Stock 2008-05-19 4 S 0 100 73.81 D 182864 D Common Stock 2008-05-19 4 S 0 100 73.82 D 182764 D Common Stock 2008-05-19 4 S 0 100 73.85 D 182664 D Common Stock 2008-05-19 4 S 0 100 73.86 D 182564 D Common Stock 2008-05-19 4 S 0 200 73.87 D 182364 D Common Stock 2008-05-19 4 S 0 100 73.89 D 182264 D Common Stock 2008-05-19 4 S 0 100 73.97 D 182164 D Common Stock 2008-05-19 4 S 0 119 74.00 D 182045 D Employee Stock Option (Right to Buy) 10.98 2008-05-19 4 M 0 5000 0 D 2010-01-03 Common Stock 5000 693000 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 2008-05-21