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Abstract Observations of a regular pulse burst (RPB) at the end of a K‐event are analyzed utilizing a simple geometric model and particle swarm optimization (PSO) to estimate the currents and propagation speeds of successive pulses of the RPB. The results show that the current of successive pulses is strongly overlapped and, for typical speeds of continuously propagating K‐events, are unphysically large (88 kA), exceeding the currents of most strokes to ground. By default, the unphysical nature of the result, coupled with very high frequency interferometer observations of an RPB in Florida, shows that the propagation speed of the pulses is significantly faster than expected, namely ∼0.6–1.8 × 10⁸ m/s. This reduces the inferred current from 88 kA down to 6–18 kA, typical of intracloud events. The fast propagation speed of the stepping is explained by successive pulses retracing much of the path of the preceding pulses due to the successive pulses being strongly overlapped.