From F to Z visa

Hi, I currently have an F expiring on the 30th of July. My company will give me the Working Z however I am afraid I may not have time enough for the extension, and now I can also not extend the F for the new regulations. Though, I already have all the requirements done for the working Z including the medical examination. What happens if I apply now to the Z and while it is being processed by the authorities my F expires? Do I have to pay any fine? or it does not have consequences and I only take the risk in case it is not approved?