X0202 4 2008-05-05 0001289419 Morningstar, Inc. MORN 0001324069 Mansueto Joseph D C/O MORNINGSTAR, INC. 225 WEST WACKER DRIVE CHICAGO IL 60606 1 1 0 0 Chairman & CEO Common Stock 2008-05-05 4 S 0 100 75.03 D 27721321 D Common Stock 2008-05-05 4 S 0 200 74.96 D 27721121 D Common Stock 2008-05-05 4 S 0 200 74.85 D 27720921 D Common Stock 2008-05-05 4 S 0 100 74.77 D 27720821 D Common Stock 2008-05-05 4 S 0 100 74.98 D 27720721 D Common Stock 2008-05-05 4 S 0 100 74.99 D 27720621 D Common Stock 2008-05-05 4 S 0 200 74.95 D 27720421 D Common Stock 2008-05-05 4 S 0 200 74.97 D 27720221 D Common Stock 2008-05-05 4 S 0 100 74.83 D 27720121 D Common Stock 2008-05-05 4 S 0 100 74.89 D 27720021 D Common Stock 2008-05-05 4 S 0 35 75.18 D 27719986 D Common Stock 2008-05-05 4 S 0 87 75.17 D 27719899 D Common Stock 2008-05-05 4 S 0 100 75.19 D 27719799 D Common Stock 2008-05-05 4 S 0 100 74.08 D 27719699 D Common Stock 2008-05-05 4 S 0 100 73.87 D 27719599 D Common Stock 2008-05-05 4 S 0 100 73.30 D 27719499 D Common Stock 2008-05-05 4 S 0 100 73.73 D 27719399 D Common Stock 2008-05-05 4 S 0 100 74.00 D 27719299 D Common Stock 2008-05-05 4 S 0 100 73.99 D 27719199 D Common Stock 2008-05-05 4 S 0 50 74.27 D 27719149 D Common Stock 2008-05-05 4 S 0 50 74.26 D 27719099 D Common Stock 2008-05-05 4 S 0 100 75.10 D 27719999 D Common Stock 2008-05-05 4 S 0 100 74.67 D 27718899 D Common Stock 2008-05-05 4 S 0 100 74.90 D 27718799 D Common Stock 2008-05-05 4 S 0 200 74.99 D 27718599 D Common Stock 2008-05-05 4 S 0 100 74.97 D 27718499 D Common Stock 2008-05-05 4 S 0 100 75.33 D 27718399 D Common Stock 2008-05-05 4 S 0 300 71.68 D 27718099 D Common Stock 2008-05-05 4 S 0 100 72.13 D 27717999 D Common Stock 2008-05-05 4 S 0 100 72.97 D 27717899 D The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 12, 2007. Form 2 of 3 /s/ Heidi Miller, by power of attorney 2008-05-07