Sec Form 4 Filing - SIEGEL HOWARD B @ CHEROKEE INC - 2014-12-18

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 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

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person SIEGEL HOWARD B 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) President (Last) (First) (Middle) 5990 SEPULVEDA BLVD #600 3. Date of Earliest Transaction (MM/DD/YY) 12/18/2014 (Street) SHERMAN OAKS, CA91411 4. If Amendment, Date Original Filed (MM/DD/YY) 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)

A Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 38,718 D Common Stock 12/18/2014 M 1,001 A $ 16.08 39,719 D Common Stock 12/18/2014 S 1,001 D $ 19.7 38,718 D Common Stock 12/19/2014 M 100 A $ 16.08 38,818 D Common Stock 12/19/2014 S 100 D $ 19.7 38,718 D Common Stock 12/19/2014 M 1,200 A $ 16.08 39,918 D Common Stock 12/19/2014 S 1,200 D $ 19 38,718 D Common Stock 12/22/2014 M 12,699 $ 16.08 51,417 D Common Stock 12/22/2014 S 12,699 D $ 18.8 38,718 D Common Stock 12/22/2014 M 16,346 A $ 16.08 55,064 D Common Stock 12/22/2014 S 16,346 D $ 18.9 38,718 D

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 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 Option $ 22.7 08/21/2009 08/21/2015 common stock 3,333 3,333 D Common Stock Option $ 22.7 08/21/2010 08/21/2015 common stock 3,333 6,666 D Common Stock Option $ 22.7 08/21/2011 08/21/2015 common stock 3,334 10,000 D Common Stock Option $ 16.08 02/01/2011 02/01/2015 common stock 16,666 26,666 D Common Stock Option $ 16.08 02/01/2012 02/01/2015 common stock 16,667 43,333 D Common Stock Option $ 16.08 02/01/2013 02/01/2015 common stock 16,667 60,000 D Common Stock Option $ 18.3 08/26/2011 08/26/2017 common stock 16,666 76,666 D Common Stock Option $ 18.3 08/26 /2012 08/26/2017 common stock 16,667 93,333 D Common Stock Option $ 18.3 08/26/2013 08/26/2017 common stock 16,667 110,000 D Common Stock Option $ 17.21 03/23/2012 03/23/2018 Common Stock 20,000 130,000 D Common Stock Option $ 17.21 03/23/2013 03/23/2018 Common Stock 20,000 150,000 D Common Stock Option $ 17.21 03/23/2014 03/23/2018 Common Stock 20,000 170,000 D Common Stock Option $ 17.21 03/23/2015 03/23/2018 Common Stock 20,000 190,000 D Common Stock Option $ 17.21 03/23/2016 03/23/2018 Common Stock 20,000 210,000 D Common Stock Option $ 13.06 06/18/2013 06/18/2019 Common Stock 20,000 230,000 D Common Stock Option $ 13.06 06/18/2014 06/18/2019 Common Stock 20,000 250,000 D Common Stock Option $ 13.06 06/18/2015 06/18/2019 Common Stock 20,000 270,000 D Performance Stock Unit ( 1 ) ( 1 ) 01/30/2016 Common Stock 17,000 287,000 D Common Stock Option $ 13.54 05/09/2015 05/09/2021 Common Stock 10,000 297,000 D Common Stock Option $ 13.54 05/09/2016 05/09/2021 Common Stock 10,000 307,000 D Common Stock Option $ 13.54 05/09/2017 05/09/2021 Common Stock 10,000 317,000 D Common Stock Option $ 16.08 12/16/2014 M( 4 ) 18,654 ( 2 ) 02/01/2015 Common Stock 18,654 $ 16.08 298,346 D Common Stock Option $ 16.08 12/18/2014 M 1,001 ( 2 ) 02/01/2015 Common Stock 1,001 $ 16.08 297,345 D Common Stock Option $ 16.08 12/19/2014 M 100 ( 2 ) 02/01/2015 Common Stock 100 $ 16.08 297,245 D Common Stock Option $ 16.08 12/19/2014 M 1,200 ( 2 ) 02/01/2015 Common Stock 1,200 $ 16.08 296,045 D Common Stock Option $ 16.08 12/22/2014 M 12,699 ( 2 ) 02/01/2015 Common Stock 12,699 $ 16.08 283,346 D Common Stock Option $ 16.08 12/22/2014 M 16,346 ( 2 ) 02/01/2015 Common Stock 16,346 $ 16.08 267,000 ( 3 ) D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other SIEGEL HOWARD B 5990 SEPULVEDA BLVD #600 SHERMAN OAKS, CA91411 President Signatures Jason Boling under POA for Howard Siegel 12/22/2014 Signature of Reporting Person Date

Explanation of Responses:

( 1 )See previous Form 4. ( 2 )The option vested in full on 2/1/2013 ( 3 )Amounts in Table II reflect cumulative totals and conform comparable amounts in prior Form 4's for the reporting person ( 4 )Options were sold on 12/16/2014

Remarks: On December 18, 2014, December 19, 2014, and December 22, 2014 Mr. Siegel exercised stock options in a total aggregate amount of 31,346 shares of Cherokee common stock at an exercise price of $16.08.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* 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).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.