The reduction of {ArFeBr}2 (Ar = terphenyl) with KC8 in the presence of excess PMe3 afforded the Fe(I) complex 3,5-Pri2-Ar′Fe(PMe3) (1) (Ar′-3,5-Pri2 = C6H-2,6-(C6H3-2,6-Pri2)-3,5-Pri2), which has a structure very different from the previously reported, linear Cr(I) species 3,5-Pri2-Ar*Cr(PMe3) (3,5-Pri2-Ar* = C6H-2,6-(C6H2–2,4,6-Pri3)2–3,5-Pri2) and features a strong Fe-η6-aryl interaction with the flanking aryl ring of the terphenyl ligand. In sharp contrast, the reduction of {ArCoCl}2 (Ar = 3,5-Pri2-Ar′ and Ar′) afforded the allyl complexes Co(η3-{1-(H2C)2C-C6H3–2-(C6H2–2,4-Pri2–5-(C6H3–2,6-Pri2))-3-Pri})(PMe3)3 (4) and Co(η3-{1-(H2C)2C-C6H3–2-(C6H4–3-(C6H3–2,6-Pri2))-3-Pri})(PMe3)3 (5) formed by an unusual triple dehydrogenation of an isopropyl group. It is proposed that the reduction initially generates an intermediate 3,5-Pri2-Ar′Co(PMe3), which is similar in structure to 1, followed by 3,5-Pri2-Ar′Co(PMe3) decomposition to a cobalt hydride intermediate and dehydrogenation of the isopropyl group via remote C–H activation induced by PMe3 complexation. Complexes 1, 4, and 5 were characterized by X-ray crystallography. In addition, 1 was studied by NMR and EPR spectroscopy; 4 and 5 were characterized by NMR spectroscopy.