Morningstar Updates Financials, Officer Compensation in 8-K
Ticker: MORN · Form: 8-K · Filed: Feb 23, 2024 · CIK: 1289419
| Field | Detail |
|---|---|
| Company | Morningstar, Inc. (MORN) |
| Form Type | 8-K |
| Filed Date | Feb 23, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-condition, executive-compensation, corporate-governance
TL;DR
**Morningstar just dropped an 8-K detailing their latest financials and some executive pay changes, so keep an eye on those numbers!**
AI Summary
Morningstar, Inc. filed an 8-K on February 23, 2024, reporting on its results of operations and financial condition, as well as changes in compensatory arrangements for certain officers. The filing also covered the departure or election of directors and officers, and included Regulation FD Disclosure and financial statements. This indicates a routine update on the company's financial health and executive compensation structure.
Why It Matters
This filing provides investors with current information on Morningstar's financial performance and any changes to its executive leadership or compensation, which can influence investment decisions.
Risk Assessment
Risk Level: low — This 8-K appears to be a routine disclosure of financial results and compensatory arrangements, not indicating any immediate high-risk events.
Key Players & Entities
- Morningstar, Inc. (company) — registrant
- February 23, 2024 (date) — date of earliest event reported
- Illinois (location) — state of incorporation
- 000-51280 (other) — Commission File Number
- 36-3297908 (other) — I.R.S. Employer Identification No.
FAQ
What was the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported in this 8-K filing was February 23, 2024.
What items of information were included in this 8-K filing by Morningstar, Inc.?
The 8-K filing included information on Results of Operations and Financial Condition, Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers, Regulation FD Disclosure, and Financial Statements and Exhibits.
What is the full legal name of the registrant as specified in its charter?
The exact name of the registrant as specified in its charter is MORNINGSTAR, INC.
Where is Morningstar, Inc.'s principal executive office located?
Morningstar, Inc.'s principal executive office is located at 22 West Washington Street, Chicago, Illinois, 60602.
What is Morningstar, Inc.'s Commission File Number?
Morningstar, Inc.'s Commission File Number is 000-51280.
Filing Stats: 1,172 words · 5 min read · ~4 pages · Grade level 13.1 · Accepted 2024-02-23 17:19:49
Filing Documents
- morn-20240223.htm (8-K) — 34KB
- exhibit991-pressrelease_12.htm (EX-99.1) — 443KB
- morningstar_q4x2023xsupp.htm (EX-99.2) — 27KB
- shareholderletter-q423.htm (EX-99.3) — 17KB
- image_0a.jpg (GRAPHIC) — 4KB
- image_1a.jpg (GRAPHIC) — 16KB
- morningstar_q4x2023xsupp001.jpg (GRAPHIC) — 411KB
- morningstar_q4x2023xsupp002.jpg (GRAPHIC) — 342KB
- morningstar_q4x2023xsupp003.jpg (GRAPHIC) — 360KB
- morningstar_q4x2023xsupp004.jpg (GRAPHIC) — 402KB
- morningstar_q4x2023xsupp005.jpg (GRAPHIC) — 376KB
- morningstar_q4x2023xsupp006.jpg (GRAPHIC) — 262KB
- morningstar_q4x2023xsupp007.jpg (GRAPHIC) — 383KB
- morningstar_q4x2023xsupp008.jpg (GRAPHIC) — 458KB
- morningstar_q4x2023xsupp009.jpg (GRAPHIC) — 318KB
- morningstar_q4x2023xsupp010.jpg (GRAPHIC) — 67KB
- shareholderletter-q423001.jpg (GRAPHIC) — 195KB
- shareholderletter-q423002.jpg (GRAPHIC) — 241KB
- shareholderletter-q423003.jpg (GRAPHIC) — 154KB
- shareholderletter-q423004.jpg (GRAPHIC) — 92KB
- 0001289419-24-000006.txt ( ) — 6340KB
- morn-20240223.xsd (EX-101.SCH) — 2KB
- morn-20240223_def.xml (EX-101.DEF) — 14KB
- morn-20240223_lab.xml (EX-101.LAB) — 27KB
- morn-20240223_pre.xml (EX-101.PRE) — 15KB
- morn-20240223_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On February 22, 2024, Morningstar, Inc. (the "Company" or "we") issued a press release announcing its financial results for the fourth quarter ended December 31, 2023. A copy of the press release is attached hereto as Exhibit 99.1. Additionally, on February 22, 2024, the Company published a Supplemental Presentation. A copy of the Supplemental Presentation is attached hereto as Exhibit 99.2. The Press Release and Supplemental Presentation shall be deemed furnished, not filed, for purposes of this Current Report on Form 8-K (this "Report"). Item 5.02. Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As of February 23, 2024, the Company designated Jason Dubinsky (age 50) as principal accounting officer, in addition to his current role as Chief Financial Officer (and principal financial officer) of the Company. Mr. Dubinsky has served as the Company's Chief Financial Officer since 2017.
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On February 22, 2024, the Company published a Shareholder Letter. The Shareholder Letter is included as Exhibit 99.3 to this Report. The Shareholder Letter shall be deemed furnished, not filed, for purposes of this Report. The information set forth under Item 2.02, "Results of Operations and Financial Condition" is incorporated herein by reference. Cautionary Note Regarding Forward-Looking Statements This Report contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future financial performance. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "prospects," or "continue." These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. For the Company, these risks and uncertainties include, among others, failing to maintain and protect our brand, independence, and reputation; failure to prevent and/or mitigate cybersecurity events and the failure to protect confidential information, including personal information about individuals; compliance failures, regulatory action, or changes in laws applicable to our credit ratings operations, investment advisory, ESG and index businesses; failing to innovate our product and service offerings, or anticipate our clients' changing needs; the impact of artificial intelligence and related technologies on our business, legal and regulatory exposure profile and reputation; failing to detect errors in our products or the failure of our products to perform properly due to defects, malfunctions or similar problems; failing to recruit, develop, and retain qualified
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 99.1 Press Release dated February 22, 2024. 99.2 Supplemental Presentation dated February 22, 2024. 99.3 Shareholder Letter dated February 22, 2024. 104 The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101). _____________________________________________________________________________________
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MORNINGSTAR, INC. Date: February 23, 2024 By:/s/ Jason Dubinsky Name: Jason Dubinsky Title: Chief Financial Officer 3