H1B Transfer to H4 while still interviewing(approved i140)

[RogerFederer]

I am facing a challenge with a layoff, and I'm seeking insights on my immigration status. Your advice would be greatly appreciated:

1) I currently hold a valid H1B, stamped until January 2025. Considering my recent layoff and with an approved I-140 from a previous employer (priority date April 2018), I'm curious about the possibility of applying for an H1B beyond the initial 60-day period. Can companies apply for a new H1b after my 60 days have expired?

2) Given my situation, would it be beneficial to consider transferring to H4 from my spouse's H1b, or are there other recommended options that might be more advantageous? Any tips on expediting H4 processing and general timelines to keep in mind? Additionally, is it feasible to pursue premium processing for H1B if I secure employment while i have a COS to H4 as pending?

Your experiences and advice are highly valued. Thank you in advance for your time and expertise!

Edited December 19, 2023 by RogerFederer
giving little more clarity

[Zodiac System]

If you get a job offer after 60 days grace period, on H4 status, your new employer will file your H1b petition as COS from H4 to H1b.

Consider transferring to H4 when you are closer to the end of your 60 day period and still have not received an employment offer.  Good Luck.