X0202 4 2008-05-07 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 2008-05-07 4 S 0 100 75.22 D 27672599 D Common Stock 2008-05-07 4 S 0 100 75.58 D 27672499 D Common Stock 2008-05-07 4 S 0 100 75.12 D 27672399 D Common Stock 2008-05-07 4 S 0 100 76.03 D 27672299 D Common Stock 2008-05-07 4 S 0 178 76.33 D 27672121 D Common Stock 2008-05-07 4 S 0 22 76.32 D 27672099 D Common Stock 2008-05-07 4 S 0 200 76.56 D 27671899 D Common Stock 2008-05-07 4 S 0 105 76.48 D 27671794 D Common Stock 2008-05-07 4 S 0 100 76.52 D 27671694 D Common Stock 2008-05-07 4 S 0 100 76.61 D 27671594 D Common Stock 2008-05-07 4 S 0 95 76.49 D 27671499 D Common Stock 2008-05-07 4 S 0 100 76.73 D 27671399 D Common Stock 2008-05-07 4 S 0 100 76.20 D 27671299 D Common Stock 2008-05-07 4 S 0 100 76.55 D 27671199 D Common Stock 2008-05-07 4 S 0 92 76.47 D 27671107 D Common Stock 2008-05-07 4 S 0 8 76.46 D 27671099 D Common Stock 2008-05-07 4 S 0 100 76.50 D 27670999 D Common Stock 2008-05-07 4 S 0 100 76.25 D 27670899 D Common Stock 2008-05-07 4 S 0 100 76.42 D 27670799 D Common Stock 2008-05-07 4 S 0 100 76.28 D 27670699 D Common Stock 2008-05-07 4 S 0 14 76.13 D 27670685 D Common Stock 2008-05-07 4 S 0 100 75.73 D 27670585 D Common Stock 2008-05-07 4 S 0 100 75.55 D 27670485 D Common Stock 2008-05-07 4 S 0 92 75.84 D 27670393 D Common Stock 2008-05-07 4 S 0 8 75.83 D 27670385 D Common Stock 2008-05-07 4 S 0 100 75.88 D 27670285 D Common Stock 2008-05-07 4 S 0 100 75.67 D 27670185 D Common Stock 2008-05-07 4 S 0 100 75.81 D 27670085 D Common Stock 2008-05-07 4 S 0 80 75.71 D 27670005 D Common Stock 2008-05-07 4 S 0 20 75.70 D 27669985 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 2008-05-08