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 *
Stupp Henry
   2. Issuer Name and Ticker or Trading Symbol
CHEROKEE INC [CHKE] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Executive Officer
(Last)
(First)
(Middle)
5990 SEPULVEDA BLVD #600		 3. Date of Earliest Transaction (Month/Day/Year)
04/27/2015
(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 04/27/2015   M   59,999 A $ 13.06 141,950 D  
Common Stock 04/27/2015   F   44,770 D $ 22.01 97,180 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
Common Stock Options (right to buy) $ 18.3             01/31/2012 08/26/2016 Common Stock 18,750   18,750 D  
Common Stock Options (right to buy) $ 18.3             01/31/2013 08/26/2016 Common Stock 18,750   37,500 D  
Common Stock Options (right to buy) $ 18.3             01/31/2014 08/26/2016 Common Stock 18,750   56,250 D  
Common Stock Options (right to buy) $ 18.3             01/31/2015 08/26/2016 Common Stock 18,750   75,000 D  
Common Stock Options (right to buy) $ 18.3             01/31/2016 08/26/2016 Common Stock 18,750   93,750 D  
Common Stock Options (right to buy) $ 13.06               (2) 06/18/2019 Common Stock 30,001   30,001 D  
Performance Stock Unit (1)               (1) 01/30/2016 Common Stock 30,000   30,000 D  
Common Stock Options (right to buy) $ 13.54             05/09/2015 05/09/2021 Common Stock 25,000   25,000 D  
Common Stock Options (right to buy) $ 13.54             05/09/2016 05/09/2021 Common Stock 25,000   50,000 D  
Common Stock Options (right to buy) $ 13.54             05/09/2017 05/09/2021 Common Stock 25,000   75,000 D  
Common Stock Options (right to buy) $ 13.06 04/27/2015   M     59,999   (2) 06/18/2019 Common Stock 59,999 $ 0 30,001 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Stupp Henry
5990 SEPULVEDA BLVD #600
SHERMAN OAKS, CA 91411		   X     Chief Executive Officer  

Signatures

 Jason Boling under POA for Henry Stupp   04/28/2015
**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 July 18, 2013.
(2) The 90,000 shares of common stock subject to the option vest over a 3 year vesting period, of which 29,999 shares vested on 6/18/2013 and 30,000 shares vested on 6/18/2014 and the remaining 30,001 shares will, subject to certain conditions, vest on June 18, 2015.

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