X0306 4 2016-07-29 0 0000844161 CHEROKEE INC CHKE 0001400318 HEADLANDS STRATEGIC OPPORTUNITIES FUND, LP (THE PARTNERSHIP) ONE FERRY BUILDING SUITE 255 SAN FRANCISCO CA 94111 0 0 1 0 0001562452 Headlands Capital Management, LLC ONE FERRY BUILDING SUITE 255 SAN FRANCISCO CA 94111 0 0 0 1 General Partner of 10% Owner 0001562508 Park David E III ONE FERRY BUILDING SUITE 255 SAN FRANCISCO CA 94111 0 0 0 1 Member of General Partner 0001562507 Cost David W Jr ONE FERRY BUILDING SUITE 255 SAN FRANCISCO CA 94111 0 0 0 1 Member of General Partner Common Stock 2016-07-29 4 P 0 10000 10.3819 A 1088188 D This Form 4 is filed on behalf of Headlands Strategic Opportunities Fund, LP (the "Fund"), Headlands Capital Management, LLC (the "GP"), David E. Park III and David W. Cost Jr. The GP is the general partner of the Fund. Messrs. Park and Cost are the sole members of the investment committee of the GP. The investment committee of the GP has collective investment discretion over such shares held by the Fund. As the general partner of the Fund, the GP may be deemed to be the indirect beneficial owner of such shares under Rule 16a-1(a)(2) promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). As the members of the investment committee of the GP, Messrs. Park and Cost may be deemed to be the indirect beneficial owners of such shares under Rule 16a-1(a)(2) promulgated under the Exchange Act. However, pursuant to Rule 16a-1(a)(4) promulgated under the Exchange Act, each of the GP, Mr. Park and Mr. Cost disclaims beneficial ownership of such shares, except to the extent of its pecuniary interest. Securities are directly owned by the Fund. The GP, Mr. Park and Mr. Cost may be deemed to have indirect beneficial ownership of these shares. See Footnotes 1 and 2. /S/ DAVID W. COST JR. 2016-08-01