SIR Brian Souter has sold more than £200,000 of Stagecoach shares after receiving stock under a long-term incentive plan.

A stock market filing shows the co-founder of the group, now its chairman, got 54,758 shares through a bonus scheme granted in 2011.

Stagecoach confirmed yesterday Sir Brian sold all of the shares at a price of 376.7p. Chief executive Martin Griffith received 73,085, worth more than £275,000, but immediately sold 34,437, around £129,000 worth, to meet the taxation associated with that particular award.

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Finance director Ross Paterson got 27.801 shares, valued at around £102,000, then sold 12,760 to meet the taxes.

Stagecoach shares closed up 3.5p, or one per cent, at 385p.