diff --git a/src/compiler/program.ts b/src/compiler/program.ts
index 5095c055e23e6..396c4d8d84cef 100644
--- a/src/compiler/program.ts
+++ b/src/compiler/program.ts
@@ -867,11 +867,15 @@ namespace ts {
             forEachResolvedProjectReference
         });
 
+        tracing.push(tracing.Phase.Program, "shouldProgramCreateNewSourceFiles", { hasOldProgram: !!oldProgram });
         const shouldCreateNewSourceFile = shouldProgramCreateNewSourceFiles(oldProgram, options);
+        tracing.pop();
         // We set `structuralIsReused` to `undefined` because `tryReuseStructureFromOldProgram` calls `tryReuseStructureFromOldProgram` which checks
         // `structuralIsReused`, which would be a TDZ violation if it was not set in advance to `undefined`.
         let structureIsReused: StructureIsReused;
+        tracing.push(tracing.Phase.Program, "tryReuseStructureFromOldProgram", {});
         structureIsReused = tryReuseStructureFromOldProgram(); // eslint-disable-line prefer-const
+        tracing.pop();
         if (structureIsReused !== StructureIsReused.Completely) {
             processingDefaultLibFiles = [];
             processingOtherFiles = [];
@@ -907,12 +911,15 @@ namespace ts {
                 }
             }
 
+            tracing.push(tracing.Phase.Program, "processRootFiles", { count: rootNames.length });
             forEach(rootNames, name => processRootFile(name, /*isDefaultLib*/ false, /*ignoreNoDefaultLib*/ false));
+            tracing.pop();
 
             // load type declarations specified via 'types' argument or implicitly from types/ and node_modules/@types folders
             const typeReferences: string[] = rootNames.length ? getAutomaticTypeDirectiveNames(options, host) : emptyArray;
 
             if (typeReferences.length) {
+                tracing.push(tracing.Phase.Program, "processTypeReferences", { count: typeReferences.length });
                 // This containingFilename needs to match with the one used in managed-side
                 const containingDirectory = options.configFilePath ? getDirectoryPath(options.configFilePath) : host.getCurrentDirectory();
                 const containingFilename = combinePaths(containingDirectory, inferredTypesContainingFile);
@@ -920,6 +927,7 @@ namespace ts {
                 for (let i = 0; i < typeReferences.length; i++) {
                     processTypeReferenceDirective(typeReferences[i], resolutions[i]);
                 }
+                tracing.pop();
             }
 
             // Do not process the default library if:
@@ -1041,21 +1049,25 @@ namespace ts {
             if (!moduleNames.length) return emptyArray;
             const containingFileName = getNormalizedAbsolutePath(containingFile.originalFileName, currentDirectory);
             const redirectedReference = getRedirectReferenceForResolution(containingFile);
+            tracing.push(tracing.Phase.Program, "resolveModuleNamesWorker", { containingFileName });
             performance.mark("beforeResolveModule");
             const result = actualResolveModuleNamesWorker(moduleNames, containingFileName, reusedNames, redirectedReference);
             performance.mark("afterResolveModule");
             performance.measure("ResolveModule", "beforeResolveModule", "afterResolveModule");
+            tracing.pop();
             return result;
         }
 
         function resolveTypeReferenceDirectiveNamesWorker(typeDirectiveNames: string[], containingFile: string | SourceFile): readonly (ResolvedTypeReferenceDirective | undefined)[] {
             if (!typeDirectiveNames.length) return [];
-            performance.mark("beforeResolveTypeReference");
             const containingFileName = !isString(containingFile) ? getNormalizedAbsolutePath(containingFile.originalFileName, currentDirectory) : containingFile;
             const redirectedReference = !isString(containingFile) ? getRedirectReferenceForResolution(containingFile) : undefined;
+            tracing.push(tracing.Phase.Program, "resolveTypeReferenceDirectiveNamesWorker", { containingFileName });
+            performance.mark("beforeResolveTypeReference");
             const result = actualResolveTypeReferenceDirectiveNamesWorker(typeDirectiveNames, containingFileName, redirectedReference);
             performance.mark("afterResolveTypeReference");
             performance.measure("ResolveTypeReference", "beforeResolveTypeReference", "afterResolveTypeReference");
+            tracing.pop();
             return result;
         }
 
@@ -2426,6 +2438,17 @@ namespace ts {
 
         // Get source file from normalized fileName
         function findSourceFile(fileName: string, path: Path, isDefaultLib: boolean, ignoreNoDefaultLib: boolean, refFile: RefFile | undefined, packageId: PackageId | undefined): SourceFile | undefined {
+            tracing.push(tracing.Phase.Program, "findSourceFile", {
+                fileName,
+                isDefaultLib: isDefaultLib || undefined,
+                refKind: refFile ? (RefFileKind as any)[refFile.kind] : undefined,
+            });
+            const result = findSourceFileWorker(fileName, path, isDefaultLib, ignoreNoDefaultLib, refFile, packageId);
+            tracing.pop();
+            return result;
+        }
+
+        function findSourceFileWorker(fileName: string, path: Path, isDefaultLib: boolean, ignoreNoDefaultLib: boolean, refFile: RefFile | undefined, packageId: PackageId | undefined): SourceFile | undefined {
             if (useSourceOfProjectReferenceRedirect) {
                 let source = getSourceOfProjectReferenceRedirect(fileName);
                 // If preserveSymlinks is true, module resolution wont jump the symlink
@@ -2750,6 +2773,16 @@ namespace ts {
             resolvedTypeReferenceDirective?: ResolvedTypeReferenceDirective,
             refFile?: RefFile
         ): void {
+            tracing.push(tracing.Phase.Program, "processTypeReferenceDirective", { directive: typeReferenceDirective, hasResolved: !!resolveModuleNamesReusingOldState, refKind: refFile?.kind, refPath: refFile?.file.path });
+            processTypeReferenceDirectiveWorker(typeReferenceDirective, resolvedTypeReferenceDirective, refFile);
+            tracing.pop();
+        }
+
+        function processTypeReferenceDirectiveWorker(
+            typeReferenceDirective: string,
+            resolvedTypeReferenceDirective?: ResolvedTypeReferenceDirective,
+            refFile?: RefFile
+        ): void {
 
             // If we already found this library as a primary reference - nothing to do
             const previousResolution = resolvedTypeReferenceDirectives.get(typeReferenceDirective);