The Ontario Securities Commission will hold a hearing to consider a settlement with top executives of Research In Motion concerning the company’s stock options.

The OSC announced Tuesday that a hearing will be held on Feb. 5. in Toronto, to consider the settlement that includes co-chief executives Jim Balsillie and Mike Lazaridis, as well as Dennis Kavelman, Angelo Loberto, Kendall Cork, Douglas Wright, James Estill, and Douglas Fregin.

Details of the agreement won’t be released 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 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.

IE