GAIA, INC — Director's Dealing 2025

May 9, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GAIA, INC (gaia)
CIK: 0001089872
Period of Report: 2025-05-07

Reporting Person: AWM Investment Company, Inc. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-07	Common Stock	S	10000	$5.1287	Disposed	1952706	Indirect
2025-05-08	Common Stock	S	10000	$5.2063	Disposed	1942706	Indirect

Footnotes

F1: AWM Investment Company, Inc., a Delaware corporation (AWM), is the investment adviser to Special Situations Fund III QP, L.P. (SSFQP), Special Situations Cayman Fund, L.P. (Cay) and Special Situations Private Equity Fund, L.P. (SSPE). (SSPE and together with SSFQP and Cay, the Funds). As the investment adviser to the Funds, AWM holds sole voting and investment power over 1,316,994 shares of Common Stock of the Issuer (the Shares) held by SSFQP, 377,037 Shares held by Cay and 248,675 Shares held by SSPE.

David M. Greenhouse (Greenhouse) and Adam C. Stettner (Stettner) are the controlling principals of AWM. The reporting person disclaims beneficial ownership of the Shares, except to the extent of its pecuniary interest therein. This report shall not be deemed an admission that the reporting person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

F2: This is a weighted average price.