Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Boling Jason
   2. Issuer Name and Ticker or Trading Symbol
CHEROKEE INC [CHKE] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Financial Officer
(Last)
(First)
(Middle)
5990 SEPULVEDA BLVD.		 3. Date of Earliest Transaction (Month/Day/Year)
01/30/2015
(Street)

SHERMAN OAKS, CA 91411		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/30/2015   M   6,666 A (1) 6,666 D  
Common Stock 01/30/2015   F   2,767 D $ 18.18 3,899 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Performance Stock Unit (1) 01/30/2015   M     6,666   (1) 01/30/2016 Common Stock 6,666 $ 0 3,334 D  
Common Stock Option (right to buy) $ 14.03             03/25/2014 03/25/2020 Common Stock 10,000   10,000 D  
Common Stock Option (right to buy) $ 14.03             03/25/2015 03/25/2020 Common Stock 10,000   20,000 D  
Common Stock Option (right to buy) $ 14.03             03/25/2016 03/25/2020 Common Stock 10,000   30,000 D  
Performance Stock Unit (1)               (1) 01/30/2016 Common Stock 3,334   3,334 D  
Common Stock Option (right to buy) $ 12.02             08/19/2014 08/19/2020 Common Stock 6,667   6,667 D  
Common Stock Option (right to buy) $ 12.02             08/19/2015 08/19/2020 Common Stock 6,667   13,334 D  
Common Stock Option (right to buy) $ 12.02             08/19/2016 08/19/2020 Common Stock 6,666   20,000 D  
Common Stock Option (right to buy) $ 13.54             05/09/2015 05/09/2021 Common Stock 10,000   10,000 D  
Common Stock Option (right to buy) $ 13.54             05/09/2016 05/09/2021 Common Stock 10,000   20,000 D  
Common Stock Option (right to buy) $ 13.54             05/09/2017 05/09/2021 Common Stock 10,000   30,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Boling Jason
5990 SEPULVEDA BLVD.
SHERMAN OAKS, CA 91411		       Chief Financial Officer  

Signatures

 Jason Boling   02/03/2015
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) See footnotes (1), (2) and (3) of the Form 4 filed by the reporting person with the Securities and Exchange Commission on April 17, 2013. On January 30, 2015, 2/3 of the shares subject to the performance stock unit award vested in full, and 1/3 of the shares subject to such award remain unvested.

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