MORNINGSTAR,INC. (NASDAQ:MORN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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MORNINGSTAR,INC. (NASDAQ:MORN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July5, 2017, Morningstar,Inc. announced that Jason Dubinsky, 43, will join Morningstar as chief financial officer effective July24, 2017.

Jason has served as senior vice president and chief financial officer, planning and central operations for Walgreens Boots Alliance,Inc., a global pharmacy-led, health and wellbeing enterprise, since the combination of Walgreen Co. and Alliance Boots GmbH at year-end 2014. From 2012 to 2014, Jason served as vice president, finance and treasurer for Walgreen Co., the largest drugstore chain in the United States.

Jason will receive an annual base salary of $400,000 and is eligible to receive an annual bonus targeted at $500,000, which will be pro-rated for 2017 as of his start date. In recognition of the fact that Jason will forfeit certain compensation provided to him by his current employer, Jason will receive a cash award of $380,000 in connection with the commencement of his employment, which will be subject to repayment in the event of a voluntary termination of employment or a termination for cause prior to the first anniversary of his start date. Also in recognition of the fact that Jason will forfeit certain compensation provided to him by his current employer, Jason will receive a grant of stock with a value of $500,000 that will be fully vested on the grant date and a grant of restricted stock units with a value of $1,000,000 that will vest in equal parts on the first and second anniversaries of the grant date, each of which grants will be awarded in November2017. In connection with the commencement of his employment, Jason will also receive a grant of restricted stock units with a value of $237,500 that will vest in four equal annual installments beginning on the first anniversary of the grant date, and a grant of market stock units with a value of $112,500 that are eligible to vest on the third anniversary of the grant date depending on our total shareholder return over that three-year period, each of which grants will be awarded in November2017.

In addition, beginning in 2018, Jason will be eligible to receive an annual grant of restricted stock units with a target value of $475,000 and an annual grant of market stock units with a target value of $225,000. The restricted stock units will vest in four equal annual installments beginning on the first anniversary of the grant date and the market stock units are eligible to vest on the third anniversary of the grant date depending on our total shareholder return over that three-year period.


About MORNINGSTAR,INC. (NASDAQ:MORN)

Morningstar, Inc. is a provider of independent investment research in North America, Europe, Australia and Asia. The Company offers a line of data, software, research and investment management offerings for financial advisors, asset managers, retirement plan providers and sponsors, and individual investors. In addition to its United States-based products and services, the Company offers local versions of its products designed for investors in Asia, Australia, Canada, Europe, Latin America and South Africa. The Company serves approximately 250,000 financial advisors, over 1,300 asset management firms, approximately 30 retirement plan providers, over 300,000 retirement plan sponsors and approximately 10.1 million individual investors. The Company has operations in approximately 30 countries. The Company tracks market data on approximately 20 million exchange-traded equities, derivatives, commodities, currencies and other investments.