CompAtty

Take a look at 1.409A-2(a)(4) and 1.409A-2(b)(9) Example 6. It talks about an initial deferral election for a short-term deferral that is not otherwise deferred compensation. The election cannot take effect for one year, but it also requires a five year deferral from the vesting date. Also, the second example appears to deal with the election of the medium of payment (i.e., shares vs. cash). It indicates there is a designated distribution date, so the election doesn't change the timing.