Morningstar, Inc. — Director's Dealing 2011

Nov 1, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Morningstar, Inc. (MORN)
CIK: 0001289419
Period of Report: 2011-10-31

Reporting Person: Williams David W (Managing Director, Design)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-10-31	Common Stock (Restricted Stock Units)	A	7	—	Disposed	58302	Direct

Footnotes

F1: Includes 7.7512 restricted stock units acquired on October 31, 2011 pursuant to a dividend reinvestment feature of the Morningstar, Inc. 2011 Stock Incentive Plan.