secwatch.observer — SEC 8-K summary
======================================

Issuer:     Morningstar, Inc. (MORN)
CIK:        0001289419
Form:       8-K
Filed at:   2025-05-14T23:59:59+00:00
Accession:  0001289419-25-000090
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 5.07
LLM model:  deepseek-v4-flash:cloud@v2

Morningstar Board adopts Executive Severance Policy; shareholders reelect directors and ratify KPMG
--------------------------------------------------------------------------------

- CEO gets 2x base salary + target bonus over 24 months on non-CIC termination; other named execs get 1x over 12 months.
- Change-in-control severance: CEO receives 2.5x salary+bonus lump sum; other participants receive 1.5x lump sum.
- All 10 director nominees elected; advisory vote on executive compensation approved 37.5M for vs 0.5M against.
- KPMG LLP ratified as independent auditor for 2025 with 39.2M votes for vs 0.2M against.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1289419/000128941925000090/0001289419-25-000090-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1289419/000128941925000090/morn-20250509.htm
  HTML page:      https://secwatch.observer/filing/0001289419-25-000090

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer