Andrew Page, the outgoing chief executive of The Restaurant Group (TRG), has cashed in options and shares worth £3.7m ahead of his retirement later this year.

Page sold 327,000 shares at 698p each, having exercised 268,000 conditional options and 83,800 matching options under the company’s long-term incentive plan.

The group’s finance director Stephen Critoph exercised 86,500 conditional options and 41,000 matching options, then sold 115,000 shares, also at 698p.