Not that there are many plausible/excusable acts which warrant a felony arrest, but the PC around Beard's was domestic violence. Among a public education workplace, I can see how the arrest alone warrants termination. I don't like it in a raw contextual sense, because Beard remains innocent until proven guilty, but because the arrest is public record, I also assume The University has reviewed at least the Probable Cause Affidavit. Beard's counsel may have shared more, since he has rights to access the State's evidence via the Michael Morton Act.
A felony arrest, especially in a large county/district, isn't one of those things where someone can just say, "trust me bro, this charge is getting dropped." Beard likely has months to wait on all of this, at least until the intake prosecutor makes his decision to present to the Grand Jury. And the saying goes, "a grand jury can indict a ham sandwich," which implies yet another layer of negative public record to emerge from this, before the charge may be dropped.