---
schema_version: "secwatch.filing_event.v1"
accession: "0001289419-24-000049"
form_type: "8-K"
ticker: "MORN"
cik: "0001289419"
company_name: "Morningstar, Inc."
filed_at: "2024-07-18T23:59:59+00:00"
generated_at: "2026-05-31T19:33:58.475649+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Morningstar Q&A: aims for adjusted op margins above historical peaks; PitchBook President named

## Summary
- Goal to increase adjusted operating margins to recent historical peaks (~low 20% range) and higher over long term.
- Compensation and benefits over two-thirds of 2023 operating expenses; $52.8M stock-based compensation.
- PitchBook's Rod Diefendorf promoted to President; John Gabert departs; leadership team remains stable.
- LCD integration substantially complete; ~85% of contracts renewed; retention in line with broader PitchBook.
- PitchBook renewal rates fell from 121% avg (2017-2022) to 112% in 2023; corporate clients weakest.

## SEC filing metadata
- accession: 0001289419-24-000049
- form_type: 8-K
- ticker: MORN
- cik: 0001289419
- company_name: Morningstar, Inc.
- filed_at: 2024-07-18T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1289419/000128941924000049/0001289419-24-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1289419/000128941924000049/morn-20240718.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001289419-24-000049
- JSON: https://secwatch.observer/filing/0001289419-24-000049.json
- Plain text: https://secwatch.observer/filing/0001289419-24-000049.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.