Her status is "linked" to your status, but its duration is determined by the date on I-94. If her I-94 is marked as "D/S" and you are still in valid F1, your wife shall be fine.
Nothing in this post shall be construed as a legal advice. If you need advice regarding your particular situation, please contact my office directly. This information is transferred without an intent to creat an attorney-client relationship.
Her status is determined by the date on her I-94 card, which should be "d/s" or "duration of status".
The above is intended only as general information, and does not constitute legal advice. You must speak with an attorney to discuss your individual case.