Regulatory subunit of Kv4/D (Shal)-type voltage-gated rapidly inactivating A-type potassium channels. Probably modulates channels density, inactivation kinetics and rate of recovery from inactivation in a calcium-dependent and isoform-specific manner. In vitro, modulates KCND2/Kv4.2 and KCND3/Kv4.3 currents (By similarity). Component of heteromultimeric potassium channels. Interacts with KCND2. Interacts with KCND3, and the C-terminus of PSEN2 and probably PSEN1 (By similarity). The KIS (K-channel inactivation suppressor) domain is required for converting A-type Kv4 current to a slowly inactivating delayed rectifier potassium current. Belongs to the recoverin family.