Every material Form 8-K Morningstar filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Morningstar said Michael Holt, its chief strategy officer since 2018, will become chief financial officer effective January 1, 2025, reporting to CEO Kunal Kapoor. The company said Jason Dubinsky will step down at the end of 2024 and move into a consulting role during a transition period. The filing also discloses Holt's pay package, which ties part of his long-term equity to total shareholder return over three years.
Holt's annual base salary will be $450,000, with an annual cash bonus target of 100% of base salary.
Annual equity targets are $275,000 in restricted stock units and $825,000 in market stock units.
Market stock units vest on the third anniversary of the grant date based on total shareholder return over that period.
Jason Dubinsky will step down at the end of 2024 and assume a consulting role through a transition period.
Morningstar's board raised its quarterly dividend to 45.5 cents per share from 40.5 cents, an expected annualized dividend of $1.82 compared with $1.62. The company also said CFO Jason Dubinsky will step down effective December 31, 2024, then serve as a consultant through June 30, 2025, which is a change in the company's finance leadership.
Quarterly dividend of 45.5 cents per share, up from 40.5 cents, a 12.3% increase; payable Jan. 31, 2025 to holders of record as of Jan. 3, 2025
Expected annualized dividend of $1.82 per share versus $1.62 previously
CFO Jason Dubinsky steps down effective Dec. 31, 2024; consulting arrangement at $52,500 bi-weekly through June 30, 2025
Separation agreement dated Dec. 3, 2024 includes a one-time payment equal to his 2024 base salary and continued vesting of equity awards
Morningstar reported third-quarter 2024 revenue of $569.4 million, up 10.5% from a year earlier, and diluted net income per share of $2.77, up 204.4%. The EPS figure includes a $1.05 per-share gain from the sale of its Commodity and Energy Data business; adjusted diluted EPS was $2.00, up 56.3%. The company also said CFO Jason Dubinsky will step down effective December 31, 2024, and then serve as a consultant through June 30, 2025.
Revenue rose 10.5% to $569.4 million; organic revenue grew 10.1%.
Operating income rose 65.0% to $115.5 million; adjusted operating income rose 41.6% to $130.3 million.
Diluted EPS was $2.77 including a $45.3 million gain on the business sale; adjusted diluted EPS was $2.00.
Jason Dubinsky will leave the CFO role effective December 31, 2024, and consult through June 30, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Morningstar filing is on SEC EDGAR ↗. 8-K briefs of other companies →