1. Can I apply for H-4-EAD on May 26 2015 even if my H-4 COS is still pending ? Or I will have to wait till it get approved ?
2. My employer already filed my PERM and they are OK to come back with them on H-4 EAD. Can I apply for I-140 after H-4 EAD is approved ? Is it ok if I will stay on H-4 EAD to continue processing of my GC ?
See clip from Attorney Rajiv S. Khanna's conference call video that addresses this question.
1. You can apply while your status is pending. but in my opinion an EAD can be applied on or after May 26th even if change of status to H-1 is pending.
2. Yes there is no law that stops you from applying a green card. you can start your green card , continue your green card or even finalize your green card while you are on your H-4.