X0508 4 2026-02-17 0 0001289419 Morningstar, Inc. MORN 0001324069 Mansueto Joseph D 22 W. WASHINGTON CHICAGO IL 60602 1 1 1 0 Executive Chairman 1 Common Stock 2026-02-17 4 S 0 1786 159.7835 D 8196467 D Common Stock 2026-02-17 4 S 0 4089 160.5285 D 8192378 D Common Stock 2026-02-17 4 S 0 816 161.4563 D 8191562 D Common Stock 2026-02-17 4 S 0 100 162.41 D 8191462 D Common Stock 2026-02-18 4 S 0 1278 157.9698 D 8190184 D Common Stock 2026-02-18 4 S 0 4201 159.1123 D 8185983 D Common Stock 2026-02-18 4 S 0 1077 159.9486 D 8184906 D Common Stock 2026-02-18 4 S 0 181 161.273 D 8184725 D Common Stock 2026-02-17 4 S 0 513 162.6901 D 8184212 D Common Stock 6282935 I By Trust Common Stock 150000 I By Trust The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 15, 2024. The transaction was executed in multiple trades at prices ranging from $159.0300 to $159.9950. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $160.0300 to $161.0000. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $161.0350 to $162.0500. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $157.4400 to $158.3800. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $158.5700 to $159.5600. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $159.7150 to $160.4600. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $160.7650 to $161.9550. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The transaction was executed in multiple trades at prices ranging from $162.1650 to $163.0500. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, Morningstar or a shareholder of Morningstar full information regarding the number of shares and prices at which the transaction was effected. The shares are held in grantor retained annuity trusts for the benefit of the reporting person and his children. The reporting person serves as trustee of the grantor retained annuity trusts. The shares are held in trusts for the benefit of the reporting person's children. The reporting person's spouse is trustee of the trusts. /s/ Kathleen Peacock, by power of attorney 2026-02-18