Mr. Moffitt was fired. Other board members were either pressured to resign or resigned out of protest to Mr. Moffit's termination. This is a case where largest investor was completely fed up with CEO. I speculate that a change of course was probably necessary as the slow sales ramp-up did not add up IMHO. So, we've got a year to clean things up. Lurie is standing behind the one year program -- that's why they locked up shares. If they though the place was going down the tubes, they would have not done so and would have cut their losses. So, in answer to the concern about the company going down the tubes, my take is that this is a painful, but needed housecleaning with still a decent chance of success for the business.
Moot point, what did they see that forced such a strong reaction is the question? It is really, really rare that a CEO and almost entire BOD resigns and walks away. The lock-up is a moot point too--how you going to get out of that much stock in the open market on this news, now--you can't.