(CNN) -- A bus driver and a passenger opened fire on each other on a moving Charlotte bus earlier this month and both were wounded, transit officials said.

The incident began when a passenger, whom authorities identified as Omarri Shariff Tobias, stood up while the bus was moving and asked the driver to drop him off between designated bus stops, according to a news release from the Charlotte Area Transit System.

The driver, David Fullard, told Tobias he would have to wait until the next approved stop. After an exchange of about two minutes, Tobias pulled out a gun and pointed it at Fullard, the transit system said.

At that point, Fullard also pulled out a firearm, the transit system said. Both men fired their guns "in quick succession," though it's unclear who fired first, company spokesman Brandon Hunter told CNN by phone Saturday.

Fullard was hit in the arm and Tobias was hit in the abdomen, according to the traffic system.

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The dramatic video of the encounter shows Fullard stopping the bus and opening the shattered driver's barrier, as he stands up with his gun still drawn. Meanwhile, Tobias was crawling to the back of the bus, where the other two passengers on board had been moving, and Fullard fired his gun again from the aisle of the bus.

Tobias and another passenger exited the bus through the side door and Fullard exited through the front door, firing his gun again, according to the transit system.

Both Fullard and Tobias are in stable condition and are expected to recover, and the other two passengers were unharmed, the transit system said in a statement Wednesday.

Tobias was charged with assault with a deadly weapon that inflicted grievous bodily harm, reported threats and carried a concealed firearm, the Charlotte-Mecklenburg Police Department said in a news release. It's unknown if charges will be filed against Fullard.

Fullard was fired by his employer, RATP Dev, which employs bus operators of the transit system, Hunter told CNN on Saturday. CNN reached out to RATP Dev for comment.

The company's workplace policy prohibits the possession of a firearm or other weapons while on duty or on company property and employees can be fired after the first offense, depending on the transit system.

The Charlotte Area Transit System said Fullard did not follow proper protocol.

"It would have been reasonable for the operator to attempt to de-escalate the situation by allowing the suspect/passenger to exit the bus before reaching the next bus stop," the transit system said.

Fullard is still recovering from his injuries, his attorney told CNN, noting that Fullard was "a dedicated employee and treasured his job," who worked as a driver for more than 19 years.

"I have represented a considerable number of CATS drivers over the years. Some of whom have been assaulted, shot or shot during their work activity," attorney Ken Harris told CNN in an email.

"They consider themselves public servants. In light of their commitment, dedication and the dangers they face in the workplace, we have continuously encouraged the CATS system to improve safety measures for drivers," Harris said.

Tobias is currently being held on $250,000 bail and his next hearing will be on June 6. CNN has been unable to find an attorney to represent him.

Police say they are continuing to investigate the case.

CNN's Lauren Mascarenhas and Chenelle Woody contributed to this report.