Involved in plasma membrane dynamics and cell process formation. Isoform 1 and isoform 2 are necessary for axonal and dendritic filopodia induction, for dendritic spine maturation and synapse formation in a palmitoylation-dependent manner. Interacts with dopamine receptor DRD3. Translocation to the plasma membrane is enhanced upon stimulation of neuronal activity. Widely expressed with highest expression in brain and testis and intermediate expression in heart and adrenal gland. Belongs to the paralemmin family.