Detailed analyses of teleseismic surface waves and body waves from the Guatemala earthquake of February 4, 1976, show the following: (1) Left lateral displacement along a vertical fault with a strike varying from N66¿E to N98¿E is consistent with the teleseismic data. (2) The seismic moment was 2.6¿1027 dyn cm. The directivity of the surface wave radiation indicates an asymmetric (1:2.3) bilateral faulting with a total length of 250 km. In modeling the displacement a rupture velocity of 3 km/s was used, and the fault curvature was included. (3) If a fault width of 15 km is assumed, the average offset is estimated to be about 2 m. This value is about twice as large as the average surface offset. (4) Although the observed directivity suggests a uniform overall displacement along the fault, the body wave analysis suggests that the earthquake consists of as many as 10 independent events, each having a seismic moment of 1.3-5.3¿1026 dyn cm and a fault length of about 10 km. The spatial separation of these events varies from 14 to 40 km. This multiple-shock sequence suggests that the rupture propagation is jagged and partially incoherent with an average velocity of 2 km/s. (5) The average stress drop estimated from surface waves is about 30 bars, but the local stress drop for the individual events may be significantly higher than this. (6) The complex multiple event is a manifestation of a heterogeneous distribution of the mechanical properties along the fault, which may be caused by either asperities, differences in strength, differences in pore pressure, differences in slip characteristics (stable sliding versus stick slip), or combinations of these factors. (7) This complexity has important bearing on the state of stress along transform faults and is important in assessing the effect of large earthquakes along other transform faults like the San Andreas.