This happened as I was shutting down the VM, specifically at the "You can turn off your computer now" screen. Logs show:
panic(cpu 0 caller 0x0019CAEF): Unresolved kernel trap (CPU 0, Type 14=page fault), registers:
CR0: 0x8001003b, CR2: 0x24150000, CR3: 0x0164a000, CR4: 0x000026e0
EAX: 0x3b598000, EBX: 0x2414b004, ECX: 0x3fffe7e8, EDX: 0xffffef9c
ESP: 0x24150000, EBP: 0x2583394c, ESI: 0x3b59cffc, EDI: 0x24150000
EFL: 0x00010206, EIP: 0x3e894d23, CS: 0x00000014, DS: 0x0000001c
Backtrace, Format - Frame : Return Address (4 potential args on stack)
0x258337fc : 0x128b5e (0x3bbeb8 0x25833820 0x131bbc 0x0)
0x2583383c : 0x19caef (0x3c1340 0x0 0xe 0x3c10f8)
0x258338ec : 0x197b53 (0x25833900 0x2583394c 0x3e894d23 0x48)
0x258338f8 : 0x3e894d23 (0x48 0x1c 0x2583001c 0x1c)
0x2583394c : 0x3e81d167 (0x2414b004 0x3b598000 0xffffef9c 0x4dd01f4)
0x25833a88 : 0x3e376a49 (0x0 0x0 0x0 0x24)
0x25833ae8 : 0x3e376937 (0x4fa9d84 0x25833ed8 0x25833b08 0x198b25)
0x25833ba8 : 0x3e3763f1 (0x4fa9d84 0x25833ed8 0x18 0x197009)
0x25833d48 : 0x3e3747c8 (0x4fa9d84 0xc0185401 0x25833ed8 0x1003)
0x25833d88 : 0x1e3d72 (0xb000000 0xc0185401 0x25833ed8 0x81)
0x25833dc8 : 0x1dac2e (0x25833df0 0x297 0x25833e28 0x1c4423)
0x25833e28 : 0x1d29c3 (0x4dcda50 0xc0185401 0x25833ed8 0x81)
0x25833e78 : 0x32550f (0x5907f00 0xc0185401 0x25833ed8 0x4dd01f4)
0x25833ea8 : 0x343849 (0x5907f00 0xc0185401 0x25833ed8 0x4dd01f4)
0x25833f78 : 0x36d8e4 (0x4dd01f4 0x3f8118c 0x3f811d0 0x0)
0x25833fd8 : 0x197e7e (0x4162880 0x4162880 0x25833900 0x25833870) Backtrace continues...
Kernel loadable modules in backtrace (with dependencies):
com.parallels.kext.vmmain(2.1)@0x3e373000
Kernel version:
Darwin Kernel Version 8.6.1: Tue Mar 7 16:55:45 PST 2006; root:xnu-792.9.22.obj~1/RELEASE_I386
Model: iMac4,1, BootROM IM41.0039.B00, 2 processors, Intel Core Duo, 2 GHz, 2 GB
Graphics: ATI Radeon X1600, ATY,RadeonX1600, PCIe, 256 MB
Memory Module: DIMM0/BANK 0, 1 GB, DDR2 SDRAM, 667 MHz
Memory Module: DIMM1/BANK 1, 1 GB, DDR2 SDRAM, 667 MHz
AirPort: spairport_wireless_card_type_airport_extreme (0x14E4, 0x89), 103.2 (3.120.28.3)
Bluetooth: Version 1.7.3f4, 2 service, 0 devices, 1 incoming serial ports
Network Service: Built-in Ethernet, Ethernet, en0
Serial ATA Device: Hitachi HDS725050KLA360, 465.76 GB
Parallel ATA Device: MATSHITADVD-R UJ-846, 460.06 MB
USB Device: Built-in iSight, Micron, Up to 480 Mb/sec, 500 mA
USB Device: Hub, Up to 480 Mb/sec, 500 mA
USB Device: Hub, Up to 12 Mb/sec, 500 mA
USB Device: USB-PS/2 Optical Mouse, Logitech, Up to 1.5 Mb/sec, 100 mA
USB Device: Microsoft Internet Keyboard Pro, Up to 1.5 Mb/sec, 236 mA
USB Device: Bluetooth HCI, Up to 12 Mb/sec, 500 mA
USB Device: IR Receiver, Apple Computer, Inc., Up to 12 Mb/sec, 500 mA
panic(cpu 0 caller 0x0019CAEF): Unresolved kernel trap (CPU 0, Type 14=page fault), registers:
CR0: 0x8001003b, CR2: 0x24150000, CR3: 0x0164a000, CR4: 0x000026e0
EAX: 0x3b598000, EBX: 0x2414b004, ECX: 0x3fffe7e8, EDX: 0xffffef9c
ESP: 0x24150000, EBP: 0x2583394c, ESI: 0x3b59cffc, EDI: 0x24150000
EFL: 0x00010206, EIP: 0x3e894d23, CS: 0x00000014, DS: 0x0000001c
Backtrace, Format - Frame : Return Address (4 potential args on stack)
0x258337fc : 0x128b5e (0x3bbeb8 0x25833820 0x131bbc 0x0)
0x2583383c : 0x19caef (0x3c1340 0x0 0xe 0x3c10f8)
0x258338ec : 0x197b53 (0x25833900 0x2583394c 0x3e894d23 0x48)
0x258338f8 : 0x3e894d23 (0x48 0x1c 0x2583001c 0x1c)
0x2583394c : 0x3e81d167 (0x2414b004 0x3b598000 0xffffef9c 0x4dd01f4)
0x25833a88 : 0x3e376a49 (0x0 0x0 0x0 0x24)
0x25833ae8 : 0x3e376937 (0x4fa9d84 0x25833ed8 0x25833b08 0x198b25)
0x25833ba8 : 0x3e3763f1 (0x4fa9d84 0x25833ed8 0x18 0x197009)
0x25833d48 : 0x3e3747c8 (0x4fa9d84 0xc0185401 0x25833ed8 0x1003)
0x25833d88 : 0x1e3d72 (0xb000000 0xc0185401 0x25833ed8 0x81)
0x25833dc8 : 0x1dac2e (0x25833df0 0x297 0x25833e28 0x1c4423)
0x25833e28 : 0x1d29c3 (0x4dcda50 0xc0185401 0x25833ed8 0x81)
0x25833e78 : 0x32550f (0x5907f00 0xc0185401 0x25833ed8 0x4dd01f4)
0x25833ea8 : 0x343849 (0x5907f00 0xc0185401 0x25833ed8 0x4dd01f4)
0x25833f78 : 0x36d8e4 (0x4dd01f4 0x3f8118c 0x3f811d0 0x0)
0x25833fd8 : 0x197e7e (0x4162880 0x4162880 0x25833900 0x25833870) Backtrace continues...
Kernel loadable modules in backtrace (with dependencies):
com.parallels.kext.vmmain(2.1)@0x3e373000
Kernel version:
Darwin Kernel Version 8.6.1: Tue Mar 7 16:55:45 PST 2006; root:xnu-792.9.22.obj~1/RELEASE_I386
Model: iMac4,1, BootROM IM41.0039.B00, 2 processors, Intel Core Duo, 2 GHz, 2 GB
Graphics: ATI Radeon X1600, ATY,RadeonX1600, PCIe, 256 MB
Memory Module: DIMM0/BANK 0, 1 GB, DDR2 SDRAM, 667 MHz
Memory Module: DIMM1/BANK 1, 1 GB, DDR2 SDRAM, 667 MHz
AirPort: spairport_wireless_card_type_airport_extreme (0x14E4, 0x89), 103.2 (3.120.28.3)
Bluetooth: Version 1.7.3f4, 2 service, 0 devices, 1 incoming serial ports
Network Service: Built-in Ethernet, Ethernet, en0
Serial ATA Device: Hitachi HDS725050KLA360, 465.76 GB
Parallel ATA Device: MATSHITADVD-R UJ-846, 460.06 MB
USB Device: Built-in iSight, Micron, Up to 480 Mb/sec, 500 mA
USB Device: Hub, Up to 480 Mb/sec, 500 mA
USB Device: Hub, Up to 12 Mb/sec, 500 mA
USB Device: USB-PS/2 Optical Mouse, Logitech, Up to 1.5 Mb/sec, 100 mA
USB Device: Microsoft Internet Keyboard Pro, Up to 1.5 Mb/sec, 236 mA
USB Device: Bluetooth HCI, Up to 12 Mb/sec, 500 mA
USB Device: IR Receiver, Apple Computer, Inc., Up to 12 Mb/sec, 500 mA