Form 4: Morningstar Executive Chairman Joseph Mansueto Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Joseph Mansueto, Executive Chairman of Morningstar, Inc., sold shares of common stock between September 3rd and September 5th, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Joseph Mansueto, the Executive Chairman of Morningstar, Inc., has reported the sale of company shares.
- The sales occurred between September 3rd and September 5th, 2024.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 17, 2023.
- On September 3, 2024, 721 shares were sold at an average price of $312.9439.
- On September 4, 2024, multiple transactions occurred: 2,834 shares were sold at an average price of $311.9417, 1,992 shares at $313.066, 1,266 shares at $314.031, and 369 shares at $314.5905.
- On September 5, 2024, 54 shares were sold at an average price of $312.5467.
- Following these transactions, Mansueto directly owns 10,525,738 shares of Morningstar common stock.
- Mansueto also indirectly owns 4,752,663 shares through trusts for his benefit and his children, and 150,000 shares through trusts for the benefit of his children.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting share sales by an executive, which is neutral in sentiment.
Industry Context
Executive share sales are a common occurrence, and the use of a 10b5-1 plan indicates that these sales were pre-planned and not based on insider information at the time of the transactions.
Stakeholder Impact
- The share sales could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 2023-11-17 | Date of adoption of Rule 10b5-1 trading plan |
| 2024-09-03 | First transaction date: Sale of 721 shares |
| 2024-09-04 | Second transaction date: Sale of 2,834, 1,992, 1,266, and 369 shares |
| 2024-09-05 | Third transaction date: Sale of 54 shares |
| 2024-09-06 | Date of Form 4 filing |
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