جَاءَ زَيْدٌ يَضْحَكُ.
Zayd arrived laughing.
يَضْحَكُ is an affirmative imperfect, with its understood subject referring to Zayd. Its clause functions as a circumstance. In the standard pattern, this affirmative imperfect follows without an independent circumstantial wāw, expressing an action accompanying the arrival.
«جاء زيد وهو يضحك» is not a simple counterexample: here هو introduces a nominal clause, and the wāw connects that circumstantial construction.