UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 21, 2017
MORNINGSTAR, INC.
(Exact name of registrant as specified in its charter)
Illinois |
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000-51280 |
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36-3297908 |
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22 West Washington Street |
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60602 |
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(312) 696-6000 | ||||
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N/A |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On February 21, 2017, Stéphane Biehler, Morningstar, Inc.s chief financial officer, notified Morningstar that he is resigning from his position effective March 10, 2017, to join a Chicago-based trading firm. Morningstar has appointed Kunal Kapoor, the companys chief executive officer, as interim chief financial officer effective March 10, 2017. The company will begin a search for a new chief financial officer immediately.
Separately, on February 24, 2017, Paul Sturm notified Morningstar of his decision not to stand for re-election to Morningstars board of directors when his term expires at the companys 2017 annual shareholders meeting.
Item 8.01. Other Events.
On February 24, 2017, Morningstar issued a press release announcing that its board of directors has approved a quarterly cash dividend of 23 cents per share payable April 28, 2017 to shareholders of record as of April 7, 2017. A copy of the press release is filed as Exhibit 99.1 to this Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No. |
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Description |
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99.1 |
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Press Release dated February 24, 2017. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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MORNINGSTAR, INC. | |
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Date: February 27, 2017 |
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/s/ Patrick J. Maloney |
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Name: |
Patrick J. Maloney |
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Title: |
General Counsel |
Exhibit 99.1
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Media Contact:
Nadine Youssef, +1 312 696-6601 or nadine.youssef@morningstar.com
FOR IMMEDIATE RELEASE
Morningstar, Inc. Declares Quarterly Dividend of 23 Cents Per Share
CHICAGO, Feb. 24, 2017The board of directors of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today declared a quarterly dividend of 23 cents per share. The dividend is payable April 28, 2017, to shareholders of record as of April 7, 2017.
About Morningstar, Inc.
Caution Concerning Forward-Looking Statements This press release contains forward-looking statements as that term is used in the Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations about future events or future financial performance. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, and often contain words such as may, could, expect, intend, plan, seek, anticipate, believe, estimate, predict, potential, prospects, or continue. These statements involve known and unknown risks and uncertainties that may cause the events we discuss not to occur or to differ significantly from what we expect. For us, these risks and uncertainties include, among others, liability for any losses that result from an actual or claimed breach of our fiduciary duties; failing to maintain and protect our brand, independence, and reputation; failing to differentiate our products and continuously create innovative, proprietary research tools; failing to respond to technological change, keep pace with new technology developments, or adopt a successful technology strategy; liability related to our storage of personal information related to individuals as well as portfolio and account-level information; liability relating to the acquisition or redistribution of data or information we acquire or errors included therein; compliance failures, regulatory action, or changes in laws applicable to our investment |
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advisory or credit rating operations; failing to achieve the anticipated results with our acquisition of PitchBook or other acquisitions or minority investments; downturns in the financial sector, global financial markets, and global economy; the effect of market volatility on revenue from asset-based fees; the effect of changes in industry-wide issuance volume for commercial mortgage-backed securities; a prolonged outage of our database, technology-based products and services, or network facilities; challenges faced by our non-U.S. operations, including the concentration of data and development work at our offshore facilities in China and India; and trends in the mutual fund industry, including the increasing popularity of passively managed investment vehicles. A more complete description of these risks and uncertainties can be found in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2015. If any of these risks and uncertainties materialize, our actual future results may vary significantly from what we expected. We do not undertake to update our forward-looking statements as a result of new information or future events.
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©2017 Morningstar, Inc. All Rights Reserved.
MORN-C |
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