Looks like you are using a ROM, and the "GAPPS" part that includes the play store among other things has crashed. If it starts back up without a problem, then probably not a big deal, but if it happens repeatedly i would say check with whomever developed the ROM that you are using, and see if he/she is aware of the issue.
If you are not ROM'ing then your phone has a software issue and you may want to take your phone into Verizon, and let them take a look at it. If it is a new phone a hard reset may fix the problem without having to take it in, but you will loose anything that is currently on your phone.
How frequently does it happen? If that was the only time then don't worry about it. If it continues, as stated a factory reset may clear it up or you should consider returning to the store.