Morningstar (MORN) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with a welcome from the Chairman, outlining a three-part agenda: formal business, management presentations, and a Q&A session with shareholders.

• Management presentations featured the CEO, CFO, and leaders of key business units, focusing on growth areas like PitchBook and credit ratings.

• The meeting was accessible virtually, allowing shareholders to vote, submit questions, and view the webcast, with instructions for remote participation and engagement.

Board and executive committee updates

• All directors and executive officers were introduced, with thanks for their contributions.

• Election of directors included ten nominees, such as Steve Kaplan, Caroline Tsay, and Kunal Kapoor.

• KPMG was confirmed as independent auditors for 2025 and were present for questions.

Shareholder proposals

• Three proposals were presented: election of 10 directors, a say-on-pay vote for executive compensation, and ratification of KPMG as auditors.

• The board recommended voting in favor of all proposals.