I've been hearing because of the crazy attrition that some of my former colleagues are getting out-of-cycle raises and RSU grants.
It does not mean you are safe from layoff.
I was in the same position and still got laid off earlier in 2020 along with bunch others between Jan - Mar. No I am not old. It didn't really have anything to do with my direct manager who got hit in a different way. I was a great performer who ruffled the wrong feathers by speaking up against the general incompetence going on.
Before the market get's flooded once again, sharpen up your technical skills, interview, and get out.