X0202 4 2008-05-27 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 2008-05-27 4 S 0 100 69.85 D 27634892 D Common Stock 2008-05-27 4 S 0 30 69.66 D 27634862 D Common Stock 2008-05-27 4 S 0 70 69.67 D 27634792 D Common Stock 2008-05-27 4 S 0 100 69.44 D 27634692 D Common Stock 2008-05-27 4 S 0 100 69.48 D 27634592 D Common Stock 2008-05-27 4 S 0 100 69.08 D 27634492 D Common Stock 2008-05-27 4 S 0 100 69.22 D 27634392 D Common Stock 2008-05-27 4 S 0 28 69.60 D 27634364 D Common Stock 2008-05-27 4 S 0 72 69.61 D 27634292 D Common Stock 2008-05-27 4 S 0 20 69.27 D 27634272 D Common Stock 2008-05-27 4 S 0 20 69.28 D 27634252 D Common Stock 2008-05-27 4 S 0 96 69.23 D 27634156 D Common Stock 2008-05-27 4 S 0 164 69.24 D 27633992 D Common Stock 2008-05-27 4 S 0 300 68.70 D 27633692 D Common Stock 2008-05-27 4 S 0 100 68.82 D 27633592 D Common Stock 2008-05-27 4 S 0 100 68.72 D 27633492 D Common Stock 2008-05-27 4 S 0 100 69.16 D 27633392 D Common Stock 2008-05-27 4 S 0 100 69.18 D 27633292 D Common Stock 2008-05-27 4 S 0 100 69.40 D 27633192 D Common Stock 2008-05-27 4 S 0 100 69.45 D 27633092 D Common Stock 2008-05-27 4 S 0 100 69.37 D 27632992 D Common Stock 2008-05-27 4 S 0 100 69.98 D 27632892 D Common Stock 2008-05-27 4 S 0 100 69.89 D 27632792 D Common Stock 2008-05-27 4 S 0 100 69.86 D 27632692 D Common Stock 2008-05-27 4 S 0 100 70.09 D 27632592 D Common Stock 2008-05-27 4 S 0 100 69.78 D 27632492 D Common Stock 2008-05-27 4 S 0 100 69.59 D 27632392 D Common Stock 2008-05-27 4 S 0 100 69.97 D 27632292 D Common Stock 2008-05-27 4 S 0 100 69.82 D 27632192 D Common Stock 2008-05-27 4 S 0 100 69.95 D 27632092 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 1 of 3 /s/ Heidi Miller, by power of attorney 2008-05-29