Our employees and our non-employee directors are eligible for awards under the Morningstar Amended and Restated 2011 Stock Incentive Plan, which provides for a variety of equity-based awards, including stock options, RSUs, MSUs, PSUs, and restricted stock.

The following table summarizes the stock-based compensation expense included in each of our operating expense categories:


	Three months ended June 30,				Six months ended June 30,
(in millions)	2026		2025		2026		2025
Cost of revenue	$	8.6	$	8.2	$	12.9	$	11.7
Sales and marketing	2.9		3.1		4.2		5.0
General and administrative	15.8		7.1		21.0		10.8
Total stock-based compensation expense	$	27.3	$	18.4	$	38.1	$	27.5

As of June 30, 2026, the total unrecognized stock-based compensation cost related to outstanding RSUs, MSUs, and PSUs expected to vest was $101.5 million, which we expect to recognize over a weighted average period of 29 months.