Shot-peening (SP) changes the near-surface structure and mechanical properties of a Ti40Zr10Cu38Pd12 bulk metallic glass. Near the surface, the hardness, Young's modulus, and elastic strain limit are all reduced. Measurements of the heat of relaxation show that an exceptionally high stored energy of cold work can be induced, implying a large increase in free volume. At the highest SP intensity there is partial nanocrystallization enabled by the increased free volume and not by the increase in temperature. © 2013 AIP Publishing LLC.