FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Williams David W   2. Issuer Name and Ticker or Trading Symbol Morningstar, Inc. [MORN] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Managing Director, Design (Last) (First) (Middle) C/O MORNINGSTAR, INC., 225 WEST WACKER DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 07/13/2007 (Street) CHICAGO, IL 60606 4. If Amendment, Date Original Filed(Month/Day/Year) 07/17/2007 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 07/13/2007   M   264 A $ 8.57 25,732 D   Common Stock 07/13/2007   M   436 A $ 20.2483 (4) (6) 26,168 D   Common Stock 07/13/2007   S(1)   700 D $ 47.73 25,468 D   Common Stock 07/16/2007   M   700 A $ 20.2552 (5) (6) 26,168 D   Common Stock 07/16/2007   S(1)   124 D $ 47.79 26,044 D   Common Stock 07/16/2007   S(1)   82 D $ 47.81 25,962 D   Common Stock 07/16/2007   S(1)   206 D $ 47.83 25,756 D   Common Stock 07/16/2007   S(1)   206 D $ 48.35 25,550 D   Common Stock 07/16/2007   S(1)   82 D $ 48.38 25,468 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (Right to Buy)

$ 8.57

07/13/2007

M

264

(2)

05/01/2013

Common Stock

264

$ 0

0

D

Employee Stock Option (Right to Buy)

$ 20.2483 (4) (6)

07/13/2007

M

436

(3)

05/02/2015

Common Stock

436

$ 0

5,814

D

Employee Stock Option (Right to Buy)

$ 20.2552 (5) (6)

07/16/2007

M

700

(3)

05/02/2015

Common Stock

700

$ 0

5,114

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Williams David W C/O MORNINGSTAR, INC. 225 WEST WACKER DRIVE CHICAGO, IL 60606			Managing Director, Design

Signatures

/s/ D. Scott Schilling, by power of attorney		07/26/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 21, 2007.
(2)	The options became exercisable in four equal installments on May 1, 2004, 2005, 2006, and 2007.
(3)	The options became exercisable in four equal installments on May 2, 2006, 2007, 2008, and 2009.
(4)	The exercise price increases over the term of the option at a rate equal to the 10-year Treasury bond yield as of the date of grant ($18.50). On July 13, 2007, the exercise price was $20.2483.
(5)	The exercise price increases over the term of the option at a rate equal to the 10-year Treasury bond yield as of the date of grant ($18.50). On July 16, 2007, the exercise price was $20.2552.
(6)	This amendment is being filed to adjust the exercise price of the option. The exercise price was inadvertently listed as the initial grant price.

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