Morningstar: Pay

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

Pay$100 in the stock at the end of FY20 → $95
CEO pay is from each 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.

Pay of each named executive

Kunal KapoorChief Executive Officer
FY2025 (Dec)
FY2024 (Dec)
FY2023 (Dec)
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
5 years
Michael HoltChief Financial Officer
FY2025 (Dec)
1 year
Danny DunnFormer Chief Revenue Officer
FY2025 (Dec)
FY2024 (Dec)
FY2023 (Dec)
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
5 years
Joe MansuetoExecutive Chairman
FY2025 (Dec)
FY2024 (Dec)
FY2023 (Dec)Not disclosed
FY2022 (Dec)Not disclosed
FY2021 (Dec)Not disclosed
5 years

CEO pay against the pay peers

In FY2024 (Dec), the median CEO pay of the 7 peers with pay on file was $12.1M. The CEO of Morningstar was paid $8.6M, 28% below the median.

  1. 1Fair Isaac
  2. 2MSCI
  3. 3Broadridge Financial Solutions
  4. 4Verisk Analytics
  5. 5Sei Investments
  6. 6Morningstar
  7. 7Factset Research Systems
  8. 8Marketaxess Holdings
  9. 9AssetMark Financial Holdings, Inc.Not disclosed
  10. 10CBOE Holdings, Inc.Not disclosed
  11. 11Envestnet, Inc.Not disclosed
  12. 12Federated Hermes, Inc.Not disclosed
  13. 13Focus Financial PartnersNot disclosed
  14. 14Moody’s CorporationNot disclosed
  15. 15SS&C Technologies Holdings, IncNot disclosed

Pay of each named executive comes from the Summary Compensation Table of each proxy statement. Realized pay adds the value of options used and stock that vested. CEO pay of each peer comes from its own Pay versus Performance table.