Morningstar, Inc. Announces Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)

CHICAGO, Nov. 15, 2017 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today announced that it issued to its chief financial officer, Jason Dubinsky, as part of a competitive pay package agreed to at the time of his appointment, an award of 5,629 fully vested shares of common stock. The award was made on Nov. 15, 2017 and the number of shares issued was determined by dividing the agreed dollar value of the grant, $500,000, by the closing price of Morningstar's common stock on the last trading day prior to the grant date. The stock was granted outside of Morningstar's shareholder-approved equity incentive plan as an inducement to Dubinsky agreeing to join the company as its chief financial officer in July 2017, and, accordingly, this announcement is being made in compliance with NASDAQ Listing Rule 5635(c)(4). Additional information regarding Dubinsky's compensation package is available in a Form 8-K filed by Morningstar with the Securities and Exchange Commission on July 5, 2017.