E3 Visa Stamp date Vs I94 date


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My E3 Visa Stamp on Passport is expiring on April 25, 2020 while my E3 Status on i94 is valid until August 15, 2021. See attached

As per my understanding and research from information available on the internet the Visa Stamp on passport is only for the purpose of entry in the USA and after entry the status is derived by the "Admit until" date on i94 until you exit USA. 
This means I can legally continue to live and work in the USA until  August 15, 2021 (I94 Date) and I don't have to renew my E3 Visa after it expires on April 25, 2020 if I don't have plans to exit the USA?
Can you please confirm thanks.
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