Rule 701 is the most relied upon exemption from SEC registration that is applicable to many private issuers granting compensatory equity awards.  As described in more detail in an article (found here) from two members of our compensation team (Matt Grunert and Emily Cabrera), Rule 701 will soon be revised to raise the enhanced disclosure threshold from $5mm to $10mm.  This is welcomed news because complying with the enhanced disclosure requirement is burdensome (i.e., triggering the enhanced disclosure requires a private company to disclose detailed information about the risks associated with the potential investment, disclose balance sheets, and disclose income statements and other financial statements).