Stephen Dean, chief executive of contractor Artisan, sold 11.75 million shares in the firm this week.
Dean sold the shares at 8.265p each, for which he received £1.01m. He also transferred 5.835 million shares to a family trust, of which he is not a beneficiary. He now holds 10 million shares, representing 3.72% of the company.

The move came as Dean announced that he will step down as chief executive at the end of the month, to be replaced by operations director Martyn Freeman.

Artisan also revealed this week that it has set aside funds to cover at least two potential claims after the collapse of its former subsidiary Bickerton Construction at the end of last year.

Dean said Artisan was in negotiations with representatives from clients Camden council and a London housing association over the claims.