Trade Summary

2 days ago, Tsay Caroline J, serving as Dir at Morningstar, Inc. (MORN), sold 600 shares at $218.48 per share, for a total transaction value of $131,090.00. Following this transaction, Tsay Caroline J now holds 3,745 shares of MORN.

This sale represents a 14.00% decrease in Tsay Caroline J's stake in the company. This is considered a high-conviction trade given the significant change in ownership.

The trade was executed on Monday, December 29, 2025 and publicly disclosed via SEC Form 4 filing on Tuesday, December 30, 2025, 1 day after the trade was made.

Morningstar, Inc. operates in the FINANCIAL SERVICES sector, specifically within the FINANCIAL DATA & STOCK EXCHANGES industry. Insider selling activity in this sector can provide valuable signals about industry trends and company-specific developments.