A phase-resolved heterodyne shearing interferometer has been developed for high-rate, whole field observations of transient surface motion. The sensor utilizes polarization multiplexing and multiple carrier frequencies to separate each segment of a shearing Mach-Zehnder interferometer. Post-processing routines have been developed to recombine the segments by extracting the scattered object phase from Doppler shifted intermediate carrier frequencies, providing quantitative relative phase changes and information to create variable shear, phase resolved shearographic fringe patterns without temporal or spatial phase shifting.