Kunal Kapoor has been at the helm of Morningstar, Inc. since 2017, after joining the company back in 1997. With an MBA from the University of Chicago, he has a strong background in finance. Under his leadership, Morningstar has not...

Number of Employees

11.33K

Year

2023

Total Compensation

$4.04M

Salary

$525.00K

Board Justification

Morningstar's compensation philosophy emphasizes a strong pay-for-performance structure, with a significant portion of total compensation being performance-based, particularly for the CEO.

Bonus

$1.54M

Board Justification

The annual cash incentive for Kunal Kapoor was determined based on company performance metrics of Adjusted Revenue and Adjusted EBITDA, with a funding factor of 91.7% of target due to performance relative to goals.

Other

$16.88K

Board Justification

This amount represents matching contributions to the 401(k) plan.

Restricted Stock

$1.96M(6.84K RSU)

Board Justification

Restricted stock units granted in 2023 that vest in four equal annual installments, commencing on the first anniversary of the grant date, subject to continued employment.

Performance Metrics

The primary performance metrics for Kunal Kapoor's compensation in 2023 were Adjusted Revenue and Adjusted EBITDA.

SEC Filing

From March 28, 2024

Kunal Kapoor

CEO of Morningstar

M

Education

University of Chicago (MBA)

Field of Expertise

Finance & Banking - Finance

Born

September 1, 1975 - 49 years ago

Is Founder?

No

Current Tenure

8 years 0 months (Jan 2017 - Present)

Previous Experience

President of Morningstar since October 2015, various leadership roles since 1997