H1B transfer with h4 dependent


Currently am working in L1B visa. My husband is working in H1B. He is planning to do H1B transfer to a different company.
Along with his transfer, we would like to apply for H4 for myself as dependent.

In this case, if the transfer is not approved, what will happen to the h4?

My i94 is valid till may 2021.
Pls clarify