The literature on teacher leadership suggests that the notion has developed over time and some have argued that this development comprises three stages or "waves" that progressively delink the idea from the formal organizational hierarchy. The third wave emphasizes that teacher leadership is a process rather than a positional concept and notes that teacher leaders tend to possess many of the characteristics of transformational leaders. The literature also suggests that third wave teacher leaders are excellent classroom performers. This article explores the relationship between the teacher leadership and transformational leadership concepts and argues that a fourth wave of teacher leadership could include transformational classroom leadership as one of the defining qualities of a teacher leader and could embrace both school and university contexts.