The mesoionic compound (1,4-diphenyl-1,2,4-triazol-4-ium-3-yl)phenylazanide, commonly referred to as Nitron, has been employed as a “crypto-NHC” to afford 1,2,4-triazolylidene compounds of nickel, palladium, and iridium. Specifically, Nitron reacts with NiBr2, PdCl2, and [Ir(COD)Cl]2 to afford the N-heterocyclic carbene complexes (NitronNHC)2NiBr2, (NitronNHC)2PdCl2, and (NitronNHC)Ir(COD)Cl, respectively. The lattermost compound reacts with (i) CO to afford the dicarbonyl compound (NitronNHC)Ir(CO)2Cl and (ii) CO, in the presence of PPh3, to afford the monocarbonyl compound (NitronNHC)Ir(PPh3)(CO)Cl. Structural studies on (NitronNHC)Ir(COD)Cl and (NitronNHC)Ir(CO)2Cl indicate that NitronNHC has a stronger trans influence than does Cl; furthermore, IR spectroscopic studies on (NitronNHC)Ir(CO)2Cl indicate that NitronNHC is electronically similar to the structurally related Enders carbene but is less electron donating than imidazol-2-ylidenes with aryl substituents. Significantly, the NitronNHC ligand affords catalytic systems, as illustrated by the ability of (NitronNHC)Ir(CO)2Cl to effect (i) the dehydrogenation of formic acid, (ii) aldehyde hydrosilylation, (iii) dehydrocoupling of hydrosilanes and alcohols, and (iv) ketone reduction via transfer hydrogenation.