How thermally activated structural excitations quantitatively mediate transport and microplasticity in a model binary glass at the microsecond timescale is revealed using atomistic simulation. These local excitations, involving a stringlike sequence of atomic displacements, admit a far-field shear-stress signature and underlie the transport of free-volume and bond geometry. Such transport is found to correspond to the evolution of a disclination network describing the spatial connectivity of topologically distinct bonding environments, demonstrating the important role of geometrical frustration in both glass structure and its underlying dynamics.