Morningstar, Inc. — Director's Dealing 2012

Dec 17, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Morningstar, Inc. (MORN)
CIK: 0001289419
Period of Report: 2012-12-14

Reporting Person: Odelbo Catherine Gillis (EVP, Strategy & Partnerships)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-14	Common Stock	M	2000	$57.28	Acquired	212660	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-12-14	Employee Stock Option (Right to Buy)	$57.28	M	2000	Disposed	2021-05-15	Common Stock (2000)	Direct

Footnotes

F1: The options became exercisable in four equal installments beginning May 15, 2012.