I would be sweating like crazy if I were them and they are coming up for election soon.
As I say, they have to pay out big time (and tell the market exactly how much the big payment is and how/when it will be implemented very very soon) if they are hoping to be re-elected.
If they just quit now that would look really bad.
If they get fired at the next vote that would be another humiliation.
They are in a very tough spot - and SM has led them down this disastrous path.
If they pay out the vast majority of cash they will probably keep their jobs. But they should know that they have been put on notice.