Morningstar

Morningstar

MORN· Finance· Fiscal year ends in December

CEO pay in FY2025Stock -35.5% in FY2025

Kunal Kapoor is the CEO of Morningstar and was paid $9.1M in FY2025 (Dec), up 5%.

Pay$100 in the stock at the end of FY20 → $95
CEO pay is from each Morningstar proxy. The stock line is the value of $100 put in the stock at the start, from the price change of each fiscal year. Dividends are not in it.

Executives4

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  1. 1Kunal KapoorFY2025
  2. 2Michael HoltFY2025
  3. 3Danny DunnFY2025
  4. 4Joe MansuetoFY2025

Named executives and their total pay, from the Summary Compensation Table of the latest proxy.

Pay

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Morningstar paid its 4 named executives $13.1M in total in FY2025 (Dec). CEO Kunal Kapoor was paid $9.1M of that.

Name
Kunal KapoorChief Executive Officer
Michael HoltChief Financial OfficerNot disclosedNot disclosed
Danny DunnFormer Chief Revenue Officer
Joe MansuetoExecutive Chairman

of each named executive, from the Summary Compensation Table of each proxy.

Peers14

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The FY2024 (Dec) proxy of Morningstar names 14 peer companies for pay. Among Morningstar and these peers, CEO pay was 6th highest of 8 and total shareholder return was 2nd highest of 8.

6th highest of 8in Morningstar and its pay peers, FY2024 (Dec) by CEO pay:

$5.8M$35.3M

2nd highest of 8in Morningstar and its pay peers, FY2024 (Dec) by total shareholder return:

$62$457

The comes from the company's proxy. CEO pay and of each company come from its own Pay versus Performance table for the same fiscal year.

Board9

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  • Joe MansuetoChair · 41 yr on the boardNot independent—Paid as an executive
  • Cheryl A. FrancisDirector · 23 yr on the boardIndependentAudit (Chair), Compensation—Paid as an executive
  • Bill LyonsDirector · 18 yr on the boardIndependentCompensation, Nominating and Corporate Governance (Chair)—Paid as an executive
  • Caroline TsayDirector · 8 yr on the boardIndependentAudit, Nominating and Corporate Governance—Paid as an executive
  • Doniel SuttonDirector · 4 yr on the boardIndependentAudit, Compensation—Paid as an executive
  • Anne BrammanDirector · -1 yr on the boardIndependentAudit, Compensation—Paid as an executive

The board of the latest proxy (FY2025).

Activity

  1. Pay
    Morningstar Former Chief Revenue Officer pay fell 42% to $1.4M. The stock fell 35% in FY2025 (Dec).
    DEF 14A
  2. Board
    Anne Bramman joined the board of Morningstar. Anne Bramman sits on no other public board.
    3
  3. Pay
    Morningstar CEO pay rose 19% to $8.6M. The stock rose 18% in FY2024 (Dec).
    DEF 14A
  4. Pay
    Morningstar CEO pay rose 13% to $6.3M. The stock fell 36% in FY2022 (Dec).
    DEF 14A
  5. Pay
    Morningstar Former CFO pay rose 212% to $8.4M. The stock rose 18% in FY2024 (Dec).
    DEF 14A
  6. Pay
    Morningstar Former Chief Revenue Officer pay rose 25% to $2.5M. The stock rose 18% in FY2024 (Dec).
    DEF 14A
  7. Pay
    Morningstar Former Chief Revenue Officer pay rose 23% to $1.7M. The stock fell 36% in FY2022 (Dec).
    DEF 14A
  8. Pay
    Morningstar CEO pay rose 15% to $7.3M. The stock rose 32% in FY2023 (Dec).
    DEF 14A
  9. Pay
    Morningstar Former CFO pay rose 21% to $2.7M. The stock rose 32% in FY2023 (Dec).
    DEF 14A
  10. Pay
    Morningstar Former Chief Revenue Officer pay rose 15% to $2.0M. The stock rose 32% in FY2023 (Dec).
    DEF 14A
  11. Pay
    Morningstar CHRO pay fell 99% to $15.0K. The stock rose 32% in FY2023 (Dec).
    DEF 14A
  12. Pay
    Morningstar CHRO pay rose 100% to $2.5M. The stock fell 36% in FY2022 (Dec).
    DEF 14A

Filings6

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Proxy statementDEF 14AMar 27, 2026FY2025
Annual report10-KFeb 13, 2026FY2025
Proxy statementDEF 14AMar 28, 2025FY2024
Annual report10-KFeb 28, 2025FY2024
Proxy statementDEF 14AMar 28, 2024FY2023
Annual report10-KFeb 29, 2024FY2023
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