Changing to EAD from H1B

Hi I am currently on h1B, my wife who is on h1b as well got her i140 approved. I am currently working as well. is it possible for me to apply for H4 EAD while I am still employed and on H1B. if I get EAD approved will I loose my h1b status. If I want to to move back to h1b from EAD in the future can I do that, or will be loosing my h1b completely ?Please let me know. Thanks

You can apply for H-4 COS + EAD in parallel. Once COS is approved, your status will become H-4 and you can work using the EAD.

In future, you can still go back to H-1 by filing cap-exempt petition through same/different employer + COS.