English to Spanish Bus/Financial Finance (general) Employee\\\'s shares in a company merger

Hola a todos:
Estoy con una traducción financiera sobre acciones que se les otorgaron a empleados de una compañía por su desempeño y esta compañía será fusionada con otra.

Under the “short-term deferral” exception, payments must be made no later than the later of the fifteenth (15th) day of the third (3rd) month following the end of the calendar year in which the right to the payment is no longer subject to a substantial risk of forfeiture or the fifteenth (15th) day of the third (3rd) month following the end of the employer’s first taxable year in which the right to the payment is no longer subject to a substantial risk of forfeiture.

Sería que el pago se debe realizar antes de los 15 días del tercer mes?
O es una estructura que tiene otro significado?
Muchas gracias!
Belén