diff --git a/doc/plan-for-new-modules-implementation.md b/doc/plan-for-new-modules-implementation.md
index fd0ce14..03e299f 100644
--- a/doc/plan-for-new-modules-implementation.md
+++ b/doc/plan-for-new-modules-implementation.md
@@ -50,6 +50,24 @@ These features will be part of the first phase of development:
 
 These changes are implemented in https://github.com/nodejs/ecmascript-modules/pull/6
 
-## Later Phases
+## Phase 2
 
-There **will** be future phases. We will **not** ship the code produced by Phase 1. This first phase lacks support for important use cases and will not be released as the new modules implementation.
+Phase 2 will focus on uncontentious features to enhance UX:
+
+* improving cjs interop in esm
+  - createRequireFromURL
+  - tracking issue: REPLACEME
+* Package.json meta data for bare imports
+  - main vs module?
+  - tracking issue: REPLACEME
+* Re-Introduce VM module integration
+  - tracking issue: REPLACEME
+  - Implemented in: https://github.com/nodejs/ecmascript-modules/pull/8
+
+## Phase 3
+
+Phase 3 will focus on extensible "loaders" and deliver an environment that allows user-land experimentation.
+
+## Phase 4
+
+Phase 4 will focus on addressing the user feedback gathered from the experimentation enabled by Phase 3.