We disclose the light-induced dynamics and ultrafast formation of several photoproducts from the manifold of reaction pathways in the photochemistry of 5-diazo Meldrum's acid (DMA), a photoactive compound used in lithography, by femtosecond mid-infrared transient absorption spectroscopy covering several nanoseconds. After excitation of DMA dissolved in methanol to the second excited state S2, 70% of excited molecules relax back to the S0 ...