TORONTO - Top executives of Research In Motion have a deal to settle a dispute with the Ontario Securities Commission over the company's stock options.
The OSC says that a hearing will be held on Thursday to consider the settlement that includes co-chief executives Jim Balsillie and Mike Lazaridis and several other executives and directors.
Details of the agreement weren't released Tuesday and will likely remain confidential unless a panel of independent commissioners approves the deal worked out by the OSC's enforcement staff.
The OSC has accused RIM and several executives including Balsillie and Lazaridis, of receiving back-dated stock options.
The regulator said RIM has paid about $45 million to investigate and deal with the incorrect option dating practices, including about $15 million paid by Balsillie and Lazaridis.
Balsillie also surrendered the chairman's post.
