The Monster Project (Werewolf Transformation)

My thanks to the anonymous reader who suggested this.

The Monster Project is a found-footage horror film, so there's lots of jerky camera work and night-vision. But these otherwise annoying elements keep the film's werewolf mysterious and undoubtedly make the special effects (already higher-quality than expected) look better.

For reasons too silly to explain, the film rarely shows the werewolf in human form (he's a Native American policeman), so the first two shots in this edited clip are from earlier on. The video artifacts and few seconds of blackness are from the original. 

As for the transformation, watch for some muzzle growth after the shirt-ripping scene.