X0202 4 2008-05-21 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 2008-05-21 4 S 0 100 72.57 D 27636792 D Common Stock 2008-05-21 4 S 0 200 72.29 D 27636592 D Common Stock 2008-05-21 4 S 0 9 72.43 D 27636583 D Common Stock 2008-05-21 4 S 0 191 72.51 D 27636392 D Common Stock 2008-05-21 4 S 0 100 72.56 D 27636292 D Common Stock 2008-05-21 4 S 0 150 72.46 D 27636142 D Common Stock 2008-05-21 4 S 0 50 72.53 D 27636092 D Common Stock 2008-05-21 4 S 0 100 72.28 D 27635992 D Common Stock 2008-05-21 4 S 0 100 72.01 D 27635892 D Common Stock 2008-05-21 4 S 0 100 72.08 D 27635792 D Common Stock 2008-05-21 4 S 0 100 72.37 D 27635692 D Common Stock 2008-05-21 4 S 0 100 72.41 D 27635592 D Common Stock 2008-05-21 4 S 0 100 72.51 D 27635492 D Common Stock 2008-05-21 4 S 0 100 72.09 D 27635392 D Common Stock 2008-05-21 4 S 0 100 72.30 D 27635292 D Common Stock 2008-05-21 4 S 0 100 72.37 D 27635192 D Common Stock 2008-05-21 4 S 0 100 72.27 D 27635092 D Common Stock 2008-05-21 4 S 0 100 72.39 D 27634992 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. /s/ Heidi Miller, by power of attorney 2008-05-22